Biovail starts roadshow for $275 million eight-year notes Wednesday; via UBS Warburg

By Paul A. Harris

St. Louis, Mo., March 11 - Biovail Corp. will start its roadshow Wednesday for an offering of $275 million senior subordinated notes due 2010 (expected ratings B2/B+), according to a syndicate source.

The roadshow wraps up March 25, and the deal is set to price the same day, according to the syndicate official.

UBS Warburg is the bookrunner. Co-managers are Credit Suisse First Boston, JP Morgan, Scotia Capital, BMO Nesbitt Burns and RBC

The off-the-shelf notes are non-callable for four years.

Proceeds will be used to pay down the company's revolver, and for general corporate purposes.

The international fully-integrated pharmaceutical company is based in Mississauga, Ont.

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