Semco Energy starts roadshow for $300 million five, 10-year notes Thursday

By Paul A. Harris

St. Louis, May 8 - The roadshow begins Thursday for Semco Energy, Inc.'s split-rated offering of $300 million senior notes due 2008 and 2013 (BBB-), according to a market source.

The deal is expected to price mid-week during the week of May 12.

Credit Suisse First Boston is the bookrunner.

Semco will use proceeds to prepay its 8% senior notes due 2004, its 7.20% senior notes due 2007 and its 8.32% senior notes due 2024, and for working capital and general corporate purposes.

The Farmington Hills, Mich. company owns and operates natural gas construction services, propane distribution, pipelines and storage businesses.

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