Kemet to start roadshow Thursday for $275 million eight-year notes

By Paul A. Harris

St. Louis, Feb. 3 - Kemet Corp. will begin a roadshow on Thursday for a $275 million offering of eight-year senior notes, according to an informed source.

The deal is expected to price during the middle part of the Feb. 8 week.

Bank of America Merrill Lynch has the books for the Rule 144A with registration rights offering. KeyBank Capital Markets LLC and UBS Investment Bank are co-managers.

The notes come with four years of call protection. However, 10% of the issue is callable annually at 103 during the non-call period.

Credit ratings remain to be determined.

Proceeds will be used to repay substantially all outstanding debt under existing credit facilities and to fund a tender for a portion of the 2¼% convertibles due 2026.

Kemet is a Greenville, S.C.-based manufacturer of capacitors.

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