Affinia on roadshow with $250 million eight-year note offering

By Paul A. Harris

Portland, Ore., April 8 - Affinia Group Inc. plans to price a $250 million offering of eight-year senior notes (expected ratings Caa2/B-) late this week, according to a market source.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Barclays and Deutsche Bank Securities Inc. are the joint bookrunners.

The Rule 144A and Regulation S with registration rights notes become callable in three years at par plus 75% of the coupon.

Proceeds will be used to redeem the company's existing notes and preferred shares, as well as to partially redeem its seller note and to make a distribution to its shareholders.

Affinia is an Ann Arbor, Mich.-based supplier of aftermarket auto and industrial filters.

© 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.