Moy Park starts roadshow for £250 million two-part notes offering

By Paul A. Harris

Portland, Ore., May 20 - Ireland-based poultry producer Moy Park (Bondco) plc began a roadshow on Tuesday for a £250 million two-part offering of senior notes, according to a market source.

The roadshow is set to run through Thursday.

The deal includes a £50 million tranche of three-year senior floating-rate notes, non-callable for one year, and a £200 million tranche of seven-year fixed-rate notes, non-callable for three years.

Barclays, Deutsche Bank and Goldman Sachs International are the lead managers.

Santander and Rabobank are the co-managers.

Proceeds from the Rule 144A and Regulation S deal will be used to fund a distribution to Marfrig Group for repayment of some of its debt, as well as to pay a deferred consideration for the purchase of the Keystone Foods assets in Europe, and for general corporate purposes.

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