Barrett Xplore starts roadshow for C$230 million six-year secured notes with warrants

By Paul A. Harris

Portland, Ore., May 4 - Barrett Xplore Inc. began a roadshow on Wednesday for a C$230 million offering of six-year senior secured notes with warrants for non-voting common shares in the company, according to an informed source.

UBS Investment Bank is the lead left bookrunner for the Rule 144A and Regulation S offering. BMO Nesbitt Burns is the joint bookrunner.

The notes come with three years of call protection.

The Woodstock, N.B.-based rural broadband provider plans to use the proceeds to repay and discharge certain existing credit facilities, to fund an escrow account for serving certain interest payments on the notes and for general corporate purposes.

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