Presidio postpones $400 million offering of eight-year senior notes

By Paul A. Harris

Portland, Ore., Jan. 26 – Presidio postponed its $400 million offering of eight-year senior notes (Caa1/CCC+) until a later date due to insufficient demand at price talk, according to an informed source.

Last week the deal was talked at a discount to yield 10¾% to 11%, with pricing targeted for last Friday.

Barclays, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. and RBC Capital Markets were joint bookrunners.

Apollo and Natixis were the co-managers.

The issuing entity was to have been Aegis Merger Sub, Inc., to be merged with and into Presidio Holdings, Inc.

Proceeds were slated to partially fund the acquisition of Presidio Holdings, a New York-based IT infrastructure solutions provider, by Apollo Global Management.

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