Venezuela's Sidetur to start roadshow Tuesday for $100 million 10-year notes

By Reshmi Basu

New York, April 17 - Sidetur Finance BV will start a roadshow for a maximum $100 million offering of senior unsecured notes (//B+) on Tuesday in Hong Kong, according to a market source.

The roadshow will then move to Singapore on Wednesday, to London on Thursday, to Zurich on Friday, to New York on April 25 and to the Boston and Connecticut area on April 26.

The fixed-rate notes will be guaranteed by Sidetur del Turbio SA and will amortize at a rate of $5 million per year until 2016 with a final payment of $60 million, according to a ratings press release by Fitch Ratings.

Proceeds from the sale will used to refinance debt.

Deutsche Bank is the bookrunner for the Rule 144A and Regulation S transaction.

The Caracas, Venezuela-based Sidetur manufactures semi-finished and finished steel products.

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