Ferro to announce senior note offering to fund $200 million tender

By Paul A. Harris

St. Louis, June 20 - Ferro Corp. is expected to announce shortly an offering of senior notes to fund its tender for $200 million of existing notes, according to David Longfellow, the company's director of investor relations.

Credit Suisse is the bookrunner, Longfellow told Prospect News on Friday, adding that the deal will be marketed via an investor roadshow.

The investor relations director declined to specify the size of the new note offering or to provide information about the structure and expected interest rate of the notes.

Ferro, a Cleveland-based supplier of technology-based performance materials for manufacturers, is tendering for its 9 1/8% senior notes due January 2009. The early consent date is July 3.

Ferro serves end markets including electronics, solar energy, telecommunications, pharmaceuticals, building and renovation, appliances, automotive, household furnishings and industrial products.

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