Sirius Computer sets roadshow for $300 million eight-year notes

By Paul A. Harris

Portland, Ore., June 17 – Sirius Computer Solutions, Inc. plans to start a roadshow on Wednesday in New York and New Jersey for a $300 million offering of eight-year senior notes (Caa1/CCC+), according to a syndicate source.

The roadshow continues in New York and New Jersey on Thursday and moves to Boston on Friday.

The deal will be marketed on a roadshow on the West Coast of the United States on June 24 and June 25.

Citigroup Global Markets Inc. is the left bookrunner for the Rule 144A and Regulation S for life offering. Credit Suisse Securities (USA) LLC, UBS Investment Bank, Barclays, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, ING, Macquarie Capital, MUFG, Natixis Securities, Nomura, RBC Capital Markets LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

The notes become callable after three years at par plus 50% of the coupon and feature a three-year 40% equity clawback and a 101% poison put.

Proceeds will be used to fund the leveraged buyout of Sirius Computer Solutions, a San Antonio-based provider of mission-critical IT infrastructure solutions, by Clayton, Dubilier and Rice from Kelso & Co.

Other issuing entities include SCS Holding I Inc., the parent, and prior to the close of the acquisition CD&R Granite Merger Sub 2, Inc.

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