West Corp. starts roadshow for $1.1 billion two-part deal

By Paul A. Harris

St. Louis, Oct. 4 - West Corp. started a roadshow on Wednesday for its $1.1 billion two part offering of notes, according to a market source.

The roadshow is expected to conclude on Oct. 16, with pricing to follow on the same day.

The Omaha, Neb.-based outsourced communications solutions provider is in the market with a $650 million tranche of eight-year senior notes, which come with four years of call protection. Pro forma on the eight-year notes is 9¼%.

West also is marketing a $450 million offering of 10-year senior subordinated notes, which come with five years of call protection. Pro forma on the subordinated notes is 11%.

Deutsche Bank Securities, Lehman Brothers and Banc of America Securities LLC are joint bookrunners. Wachovia Securities is a co-manager.

The company will also put in place a $2.3 billion credit facility.

Proceeds will be used to help fund the leveraged buyout of the company by Thomas H. Lee Partners and Quadrangle Group LLC.

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