New Issue: Affinia prices $300 million 10-year notes at par to yield 9%

By Paul A. Harris

St. Louis, Nov. 12 - Affinia Group Inc. sold $300 million of 10-year senior subordinated notes (Caa1/B) at par to yield 9% on Friday, according to a syndicate source.

Price talk was in the 9¼% area.

Credit Suisse First Boston, Deutsche Bank Securities, Goldman Sachs & Co. and JP Morgan ran the books for the Rule 144A/Regulation S issue. UBS Investment Bank was the co-manager.

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.

Issuer:	Affinia Group Inc.
Amount:	$300 million
Maturity:	Nov. 30, 2014
Security description:	Senior subordinated notes
Bookrunners:	Credit Suisse First Boston, Deutsche Bank Securities, Goldman Sachs & Co., JP Morgan
Co-manager:	UBS Investment Bank
Coupon:	9%
Price:	Par
Yield:	9%
Spread:	480 basis points
Call features:	Callable after Nov. 30, 2009 at 104.50, 103.0, 101.50, par on or after Nov. 30, 2012
Equity clawback:	Until Nov. 30, 2007 for 35% at 109.0
Pricing date:	Nov. 12
Settlement date:	Nov. 30
Ratings:	Moody's: Caa1
	Standard & Poor's: B
Price talk:	9¼% area

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