School Specialty to start roadshow Tuesday for $650 million two-part bond offering

By Paul A. Harris

St. Louis, Sept. 9 - School Specialty Inc. will begin its roadshow Tuesday for $650 million of high-yield bonds in two tranches, according to a syndicate source.

The Greenville, Wis., supplemental education company plans to sell $350 million of eight-year senior notes, which will be non-callable for four years, and $300 million of 10-year senior subordinated notes, which will be non-callable for five years.

The roadshow is set to conclude on Sept. 21, with pricing to follow.

Banc of America Securities LLC, JP Morgan and Deutsche Bank Securities are joint bookrunners for the Rule 144A transaction.

Proceeds will be used to help finance the leveraged buyout of the company by Bain Capital and Thomas H. Lee Partners in a $1.5 billion transaction, and for general corporate purposes.

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