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McLaren starts roadshow for £525 million equivalent secured notes in dollars and euros
By Paul A. Harris
Portland, Ore., July 5 – McLaren Automotive started a European roadshow on Wednesday for a £525 million equivalent two-part offering of five-year senior secured notes, according to a market source.
The deal is being sold in dollar-denominated and euro-denominated tranches.
The European roadshow wraps up on Friday.
A roadshow in the United States is set to take place during the week of July 10.
JP Morgan is the physical bookrunner. HSBC is the joint bookrunner.
The syndicate also includes Barclays, NatWest and Santander.
The notes come with two years of call protection.
The Woking, United Kingdom-based performance automobile manufacturer plans to use the proceeds to fund the purchase of shares from its former chairman Ron Dennis and to refinance debt.
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