TreeHouse Foods starts roadshow for $400 million eight-year notes

By Paul A. Harris

St. Louis, Feb. 16 - TreeHouse Foods, Inc. began a roadshow on Tuesday for its $400 million offering of eight-year senior notes (expected Ba2/confirmed BB-), according to an informed source.

An investor call is scheduled for Wednesday.

Bank of America Merrill Lynch and Wells Fargo Securities are joint bookrunners for the notes offering, which is registered with the Securities and Exchange Commission. BMO Nesbitt Burns, Rabobank, SunTrust Robinson Humphrey Inc., Barclays Capital Inc. and KeyBanc Capital Markets Inc. are co-managers.

The notes come with four years of call protection and a change-of-control put at 101%.

Proceeds, along with expected new bank debt and a stock offering, will be used to fund a portion of the acquisition of Sturm Foods.

TreeHouse is a Westchester, Ill.-based private-label food company.

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