New Issue: Affinia upsizes to $100 million, sells add-on to 9% notes due November 2014 at par

By Paul A. Harris

St. Louis, Dec. 6 - Affinia Group Inc. priced an upsized $100 million add-on to its 9% senior subordinated notes due Nov. 30, 2014 (B3/CCC+/) at par to yield 9% on Monday, according to market sources.

J.P. Morgan Securities LLC and Barclays Capital Inc. led the deal, which was upsized from $75 million.

Proceeds will be used to fund the $24 million buyout of the company's non-controlling interest in its Affinia-MAT 50/50 joint venture, Moody's said, and to repay $49 million of outstanding borrowings under the company's asset-based revolving credit facility.

Affinia is a designer, manufacturer and distributor of automotive aftermarket components.

Issuer:	Affinia Group Inc.
Amount:	$100 million, increased from $75 million
Maturity:	Nov. 30, 2014
Security description:	Add-on to 9% senior subordinated notes
Bookrunners:	J.P. Morgan Securities LLC, Barclays Capital Inc.
Coupon:	9%
Price:	Par
Yield:	9%
Spread:	789 bps
Call protection:	Callable after Nov. 30, 2011 at 101.50, par on or after Nov. 30, 2012
Trade date:	Dec. 6
Settlement date:	Dec. 9
Ratings:	Moody's: B3
	Standard & Poor's: CCC+
Distribution:	Rule 144A and Regulation S
Marketing:	Quick to market
Original issue:	$300 million priced at par in November 2004
Total issue size:	$400 million

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