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Prospect News home > News index > List of issuers F > Headlines for FastenTech, Inc. > News item |
FastenTech $175 million notes talked at 11¼%-11½%, pricing Friday
By Paul A. Harris
St. Louis, Feb. 12 - Price talk of 11¼%-11½% emerged Wednesday on Fastentech, Inc.'s planned $175 million of senior subordinated notes due 2011 (B3/B-), according to a syndicate source.
The deal is expected to price on Friday, the source added.
JP Morgan and Lehman Brothers are joint bookrunners on the Rule 14A deal. Bank One Capital Markets is co-manager.
Proceeds will be used to repay debt and settle interest rate swaps.
The issuer is a Minneapolis manufacturer and marketer of specialized fastener systems.
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