Yankee Candle to start roadshow Thursday for $300 million offering of five-year senior notes

By Paul A. Harris

St. Louis, Feb. 2 - Yankee Candle Co. will begin marketing a $300 million offering of five-year senior notes with a Thursday investor call, according to an informed source.

An investor roadshow will also get underway with a Thursday lunch in New York. The roadshow moves to Boston on Friday, subject to weather conditions.

The notes, which are being issued via YCC Holdings LLC and Yankee Finance, Inc., are expected to be sold at an original issue discount of 2 to 3 points.

Barclays Capital and Bank of America Merrill Lynch are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

The notes, which feature customary high-yield covenants, will become callable after one year at 105, with the call premium declining to 102.5 after year two and to par after year three.

Credit ratings remain to be determined.

The South Deerfield, Mass.-based designer, manufacturer, wholesaler and retailer of premium scented candles plans to use the proceeds to fund a distribution to equity holders.

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