VeraSun starts roadshow for $450 million seven-, 10-year notes

By Paul A. Harris

St. Louis, May 8 - VeraSun Energy Corp. began a brief roadshow on Tuesday for its $450 million two-part offering of senior notes (B3/B-), according to market sources.

The Brookings, S.D.-based producer of ethanol is offering tranches of seven-year notes, which come with four years of call protection, and 10-year notes, which come with five years of call protection.

The roadshow is scheduled to conclude on Friday, with the notes to price thereafter.

Lehman Brothers, Morgan Stanley and UBS Investment Bank are joint bookrunners for the Rule 144A and Regulation S offerings.

Proceeds will be used to finance a portion of the construction of an ethanol production facility.

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