Steinway Musical Instruments to start roadshow Monday for $175 million eight-year notes

By Paul A. Harris

St. Louis, Feb. 10 - Steinway Musical Instruments Inc. will begin a four-day roadshow on Monday for its $175 million offering of eight-year senior notes, according to a source close to the deal.

The roadshow is set to wrap up on Thursday, and the offering is expected to price soon thereafter.

UBS Investment Bank has the books for the Rule 144A notes.

The notes will come with four years of call protection.

Proceeds will be used to fund the tender for all $166.2 million of the company's 8¾% senior notes due 2011.

Credit ratings on the notes remain to be determined.

Waltham, Mass.-based Steinway Musical Instruments Inc., through its Steinway and Conn-Selmer divisions, is one of the world's leading manufacturers of musical instruments.

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