Plantronics sets roadshow for $500 million eight-year notes offering; pricing expected Thursday

By Paul A. Harris

Portland, Ore., Feb. 22 – Plantronics Inc. (Poly) plans to hold a roadshow on Tuesday and Wednesday for a $500 million offering of eight-year senior notes (existing ratings B2/B), according to market sources.

An investor conference call is set for noon ET on Tuesday.

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

Left lead bookrunner Morgan Stanley & Co. LLC will bill and deliver. BofA Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the joint bookrunners. Cowen and Everco are the co-managers.

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

The Santa Cruz, Calif.-based electronics company plans to use the proceeds to refinance its 5½% notes due 2023.

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