Meredith sets Tuesday investor call for launch of $1.4 billion eight-year notes offering

By Paul A. Harris

Portland, Ore., Jan. 12 – Meredith Corp. plans to launch a $1.4 billion offering of eight-year senior notes on a Tuesday investor conference call, a syndicate source said.

The Rule 144A and Regulation S with registration rights offering is set to price later in the Jan. 15 week.

Credit Suisse Securities (USA) LLC is the lead bookrunner. RBC Capital Markets LLC, Barclays and Citigroup Global Markets Inc. are the joint bookrunners.

The notes become callable after three years at par plus 50% of the coupon and feature a three-year 40% equity clawback at par plus the coupon and a 101% poison put.

The Des Moines-based media and marketing company plans to use the proceeds to help fund its purchase of Time Inc. and refinance existing debt.

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