Ashland to start roadshow Thursday for $600 million eight-year notes

By Paul A. Harris

St. Louis, May 13 - Ashland Inc. will begin a roadshow on Thursday for a $600 million offering of eight-year senior notes (expected ratings Ba3/BB-), according to an informed source.

An investor call will take place on Friday.

The roadshow wraps up on Tuesday, with the deal expected to price early next week.

Banc of America Securities LLC and Scotia Capital are joint bookrunners for the Rule 144A with registration rights offer.

The notes come with four years of call protection.

Proceeds will be used to refinance the bridge loan used to fund the acquisition of Hercules Inc. The acquisition closed last November.

Ashland is a Covington, Ky.-based chemical company.

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