Signode Industrial to begin roadshow Wednesday for $750 million eight-year senior notes

By Paul A. Harris

Portland, Ore., April 1 - Signode Industrial Group (B2/B) plans to start a roadshow on Wednesday for a $750 million offering of eight-year senior notes, according to a market source.

Goldman Sachs & Co., J.P. Morgan Securities LLC, Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are the joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes come with three years of call protection.

Proceeds, along with a $1.35 billion term loan, a $400 million euro-denominated term loan and $885 million of sponsor equity, will be used to fund the acquisition of Signode from Illinois Tool Works, Inc. by the Carlyle Group.

Signode is a Glenview, Ill.-based manufacturer of strap, stretch and protective packaging for consumables, tools and equipment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.