Moore to start roadshowing $400 million 10-year deal next week

By Paul A. Harris

St. Louis, Feb. 26 - Moore Corp. of North America announced that it will come to the high yield market with $400 million of Rule 144A senior notes due 2013 to be issued through Moore North America Finance, Inc.

An informed source told Prospect News that the roadshow is expected to get underway Tuesday or Wednesday.

Salomon Smith Barney, Deutsche Bank Securities and Morgan Stanley are the underwriters.

The bonds are coming in conjunction with an $850 million credit facility, also led by Deutsche, Salomon and Morgan Stanley.

Proceeds will be used to finance the company's acquisition of Computer Services Inc. and to refinance substantially all of Moore and Wallace's debt.

The notes will be guaranteed by Moore, Moore North America, Inc., Wallace Computer Services, Inc., their U.S. and Canadian subsidiaries and certain of their foreign subsidiaries, according to Wednesday's press release, which added that the net proceeds will be deposited in an escrow account pending the completion of the Wallace acquisition.

The issuer is a print and digital information management company headquartered in Stamford, Conn.

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