Howden starts roadshow for $300 million eight-year senior notes

By Paul A. Harris

Portland, Ore., Sept. 16 – Granite Holdings US Acquisition Co., doing business as Howden, began a roadshow on Monday for a $300 million offering of eight-year senior notes (Caa1) backing KPS Capital Partners' acquisition of the Howden air and gas handling business from Colfax Corp., according to market sources.

The Rule 144A and Regulation S for life deal is expected to price on Friday.

J.P. Morgan Securities LLC, Barclays, BNP Paribas, HSBC and RBC Capital Markets LLC are the joint bookrunners.

The notes become callable after three years at par plus 50% of the coupon.

Howden is based in Glasgow, Scotland.

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