Affinia $300 million 10-year notes talked to yield 9¼%, to price Friday

By Paul A. Harris

St. Louis, Nov. 10 - Affinia Group Inc.'s $300 million offering of 10-year senior subordinated notes (Caa1/B) has price talk in the 9¼% area, a syndicate source said Wednesday.

The offering is expected to price on Friday.

Credit Suisse First Boston, Deutsche Bank Securities, Goldman Sachs & Co. and JP Morgan are the bookrunners.

The notes are non-callable for five years.

Proceeds will be used to help fund the Cypress Group's $1.1 billion acquisition of Affinia from Dana Corp.

Dana Corp is a Toledo, Ohio-based designer and manufacturer of value-added products and systems for automotive, commercial, and off-highway vehicles.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.