Motherson sets roadshow for €300 million split-rated seven-year notes

By Paul A. Harris

Portland, Ore., June 22 – Motherson Sumi Systems plans to start a roadshow on Monday for a €300 million offering of seven-year senior secured bonds, according to a market source.

The deal is expected to be split-rated, but will receive a high yield execution, the source said.

The bonds are rated BB+ by S&P. Fitch Ratings is expected to assign a BBB- rating to the bonds.

Barclays, BNP Paribas, Deutsche Bank and HSBC are managing the Rule 144A and Regulation S offer.

The roadshow is expected to wrap up on Wednesday, with the deal pricing subsequently.

The bonds will be issued via subsidiary Samvardhana Motherson Automotive Systems Group BV.

Motherson is a Noida, India-based manufacturer of automotive components.

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