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Lawson Software to start roadshow Monday for $1.15 billion equivalent seven-year notes
By Paul A. Harris
Portland, Ore., March 16 - Lawson Software, Inc. plans to conduct a roadshow on Monday and Tuesday in Europe for a $1.15 billion equivalent offering of seven-year senior notes (expected ratings Caa1/B-), according to a syndicate source.
A roadshow gets underway in the United States on Thursday.
A global investor call is set to take place at 2 p.m. ET/6 p.m. GMT on Monday.
The deal is set to price during the March 26 week.
The St. Paul, Minn.-based company plans to offer the notes in dollar- and euro-denominated tranches. Tranche sizes remain to be determined.
Left lead bookrunner Bank of America Merrill Lynch will bill and deliver. Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co., Barclays Capital Inc., Deutsche Bank Securities Inc., RBC Capital Markets and KKR Capital Markets are the joint bookrunners.
The Rule 144A and Regulation S with registration rights notes come with three years of call protection.
Proceeds, together with borrowings under the new senior secured credit facilities consisting of a $150 million revolver and $3.5 billion of term loan facilities, will be used to refinance certain existing debt, to finance the change-of-control notice, and for the purchase and consent solicitation in connection with the 11½% senior notes due 2018.
This offering is part of the financing for, and is conditioned upon, the consummation of the proposed combination of Infor Global Solutions and Lawson.
The combined company will be the world's third largest provider of enterprise business applications software and services.
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