Boparan starts roadshow for £695 million equivalent multi-currency offering of seven-year notes

By Paul A. Harris

Portland, Ore., April 7 - Boparan Finance plc began a Europe-only roadshow on Thursday for a £695 million equivalent offering of seven-year senior notes (expected ratings Ba3/B+), which are to be sold in euro-denominated and sterling-denominated tranches, according to market sources.

Goldman Sachs International has the books. Rabobank is the co-manager.

The notes come with four years of call protection.

Proceeds, along with proceeds from a new revolving credit facility, will be used to fund the acquisition of Leeds, England-based food manufacturer Northern Foods by Ranjit Boparan, to refinance debt and to fund pension obligations of Northern Foods.

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