MoneyGram starts roadshow for $415 million five-year secured notes; initial talk high-5% to 6% area

By Paul A. Harris

Portland, Ore., July 12 – MoneyGram International, Inc. started a roadshow on Monday for a $415 million offering of five-year senior secured notes (B2/B+), according to market sources.

The Rule 144A and Regulation S for life deal, scheduled to kick off on a conference call with investors, is in the market with initial guidance in the high-5% to 6% area, a trader said.

BofA Securities, Inc. and Wells Fargo Securities LLC are the joint bookrunners. Morgan Stanley & Co. LLC and Northland Capital Markets are the co-managers.

The notes become callable after two years at par plus 50% of the coupon.

The Dallas-based provider of cross-border P2P payments and money transfers plans to use the proceeds, plus a new $400 million term loan B, to refinance its $632 million first-lien term loan and its $155 million second-lien term loan.

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