Germany's SGL Carbon starts roadshow for €250 million 5.5-year secured notes

By Paul A. Harris

Portland, Ore., April 1 – SGL Carbon SE began a roadshow on Monday in London West End for a €250 million offer of 5.5-year senior secured notes (B2), according to market sources.

The roadshow continues in London City on Tuesday, with presentations in Paris, Amsterdam and Frankfurt to follow on Wednesday.

Further details on the timing of the Regulation S only deal were pending at press time, a source said.

Left global coordinator Deutsche Bank will bill and deliver. Commerzbank is the joint global coordinator. BNP Paribas, Credit Agricole CIB, HSBC, LBBW and UniCredit are the joint bookrunners.

The notes become callable after two years at par plus 50% of the coupon.

The Wiesbaden, Germany-based manufacturer of carbon, graphite and composite materials plans to use the proceeds to redeem €167 million of its convertibles due 2020 and repay $99 million of bank debt.

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