Lowell Group plans sale of £100 million five-year secured notes

By Paul A. Harris

Portland, Ore., March 3 - Lowell Group Financing plc was scheduled to participate in a global investor call early on Monday to discuss its proposed £100 million offering of five-year senior secured notes (B1/BB), according to a market source.

The roadshow will be held in London on Monday and Tuesday, and the deal is set to price thereafter.

JPMorgan and Goldman Sachs are the joint bookrunners for the Rule 144A and Regulation S for life offer.

The notes come with two years of call protection.

The Leeds, England-based purchaser of non-performing consumer debt portfolios plans to use the proceeds to refinance debt, to fund cash on its balance sheet and for general corporate purposes.

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