Ovako to start roadshow Tuesday for €285 million secured notes

By Paul A. Harris

Portland, Ore., May 12 - Sweden-based steel producer Ovako AB plans to start a European roadshow on Tuesday for its €285 million offering of five-year senior secured notes, according to a market source.

The roadshow wraps up on Friday, and the deal is set to price thereafter.

Lead bookrunner JPMorgan will bill and deliver for the Rule 144A and Regulation S for life offering. Nordea is also a lead bookrunner. Deutsche Bank is a joint bookrunner.

The notes come with two years of call protection.

The Stockholm-based company plans to use the proceeds to refinance debt.

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