crown-initiates-nondeal-roadshow

Crown initiates non-deal roadshow

The Hong Kong-based logistics company will meet bond investors next week to discuss the potential of a high-yield deal.
Logistics and moving company Crown Worldwide Group will embark on a non-deal roadshow next week to sound the market for a potential high-yield deal. The company is being advised by BNP Paribas and Standard Chartered.

The size and tenor of the transaction are yet to be determined. ôThese are very volatile markets, so itÆs not possible to gauge these parameters at present. We want to take the management to meet investors and see how they respond,ö says a source close to the deal.

The company should attract decent interest from banks and the private community. "It is a well-known name that people are familiar with,ö continues the source. "Many will have used this company for their own moving and logistics needs."

The privately-held company operates 4 million square feet of warehouse space, with facilities valued at over $200 million. Founded in Japan in 1965, the company expanded to Hong Kong in 1970, continuing thereafter to Singapore, Malaysia, Indonesia and other Asia-Pacific locations. It serves close to 100,000 customers from 200 locations in 50 countries across the world, according to the company website.

The group is headquartered in Hong Kong.

Korea's Hyundai Steel is also rumoured to be considering a roadshow next week.
¬ Haymarket Media Limited. All rights reserved.

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