Voyage Care sets roadshow for £272 million two-part note offering

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Jan. 11 - Voyage Care Bondco plc will begin a roadshow on Monday ahead of a proposed two-part £272 million offering of notes, a market source said.

The deal consists of £210 million five-year senior secured notes (expected ratings B1/B+/BB), which will be callable in two years at par plus 75% of the coupon.

J.P. Morgan Securities LLC, Goldman Sachs & Co., Royal Bank of Scotland, Commerzbank and Lloyds TSB are joint bookrunners.

There is also a £62 million offering of second-lien notes (expected ratings Caa1/CCC+/CCC+).

Goldman Sachs and JPMorgan are the joint bookrunners.

Proceeds from the Rule 144A and Regulation S offering will be used to refinance debt.

Voyage Care is a Cannock, England-based services provider for individuals with disabilities.

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