ACCO to start roadshow Wednesday for $500 million eight-year notes

By Paul A. Harris

Portland, Ore., April 17 - ACCO Brands Corp. will begin a roadshow on Wednesday in Baltimore and New Jersey for a $500 million offering of eight-year senior notes (expected ratings B2/B), according to an informed source.

The roadshow moves to New York City on Thursday, to Boston on Friday, to Los Angeles on Monday, and wraps up in San Francisco on Tuesday.

The deal is set to price early in the April 23 week, following the conclusion of the roadshow.

Barclays Capital Inc. is the left lead bookrunner. Bank of America Merrill Lynch, BMO Capital Markets Corp. and SunTrust Robinson Humphrey are the joint bookrunners.

BBVA, PNC Capital Markets and Scotia Capital are the co-managers.

The Rule 144A and Regulation S with registration rights notes come with five years of call protection and feature standard incurrence-based high-yield covenants.

The issuing entity will be subsidiary Monaco Spinco Inc.

ACCO Brands, a Lincolnshire, Ill.-based office supplies manufacturer, plans to use the proceeds to fund the special distribution in connection with the separation of the Mead Consumer & Office Products business, and to purchase or redeem up to all of the company's senior subordinated notes.

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