(Adds details of increased sizing and extended roadshows)
By Kirsten Donovan
LONDON, Sept 25 (Reuters) - British-based TI Automotive has increased the proposed size of its forthcoming high-yield bond to $300 million from $215 million and extended marketing for the deal, bankers said on Wednesday.
The 10-year deal is now likely to price on October 1, along with a 175 million sterling equivalent offer from UK wholesale food distributor Brake Bros .
A banker said the TI Automotive bond had been increased due to investor demand and at the request of the company while roadshows were extended due to scheduling conflicts with a high-yield conference in the U.S.
TI Automotive, which supplies fuel and braking systems for cars and trucks, is based in Oxford, and Michigan in the U.S.
Proceeds from the deal, which will be lead-managed by JPMorgan and Schroder Salomon Smith Barney, will be used to refinance existing debt.
Credit rating agency Standard & Poor's assigned a B rating, to the proposed bonds, to be launched via TI Automotive Finance Plc., while Moody's Investors Service rated the notes B3.
Roadshows for a 175 million sterling equivalent bond from British wholesale food distributor Brake Bros will also run on into next week with a stop in the U.S. scheduled for Monday.
Price talk and credit ratings are expected before the end of the week, a banker close to that deal said on Wednesday.
The European high-yield market saw its first deal since July launch on Monday with a 905 million euro equivalent bond from Irish packaging giant Jefferson Smurfit .
The deal, which was widely seen as a test of the market, was divided into a 350 million euro tranche and a larger than expected $545 million bond.