National Waterworks tentatively set to start roadshow on Wednesday

By Paul A. Harris

St. Louis, Mo., Nov. 4 - National Waterworks is tentatively scheduled to start the roadshow for its $200 million of senior subordinated notes due 2012 (B3/B) on Wednesday, according to a syndicate source.

The roadshow is tentatively set to wrap up on Nov. 14, with pricing tentatively timed for Nov. 15.

Goldman Sachs & Co. and JP Morgan are joint bookrunners. UBS Warburg is the co-manager.

The Rule 144A notes are non-callable for five years. The deal is coming with $325 million senior secured bank credit facility.

Proceeds will be used to fund the leveraged buyout of the assets of U.S. Filter Distribution Group Inc. from U.S. Filter Corp. (a subsidiary of Vivendi) by JP Morgan Partners and Thomas H. Lee.

The issuer is a Waco, Tex.-headquartered waterworks transmission products distributor.

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