Sanmina-SCI to start roadshowing $450 million on Thursday

By Paul A. Harris

St. Louis, Dec. 3 - Sanmina-SCI Corp. begins its roadshow Thursday for a $450 million offering of senior secured notes due 2009 (expected ratings B2/B), according to market sources. The deal is expected to price Dec. 18 or 19.

The syndicate includes Goldman Sachs & Co., JP Morgan, Salomon Smith Barney, Banc of America Securities and Scotia Capital.

The Rule 144A notes are non-callable for four years.

The company will also take out a new $250 million senior secured credit facility.

Proceeds will be used to repay the outstanding balance under its receivables securitization facility, to refinance or restructure its other debt, and to fund further expansion of its business and working capital.

The issuer is an electronics manufacturer headquartered in San Jose, Calif.

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