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Prospect News home > News index > List of issuers A > Headlines for Altra Industrial Motion, Inc. > News item |
Altra's $165 million notes talked: fixed 9%-9¼%, floater at swap equivalent of 9%-9¼%
By Paul A. Harris
St. Louis, Nov. 18 - Altra Industrial Motion expects to price $165 million of seven-year senior secured notes on Friday, via Jefferies & Co., according to an informed source.
On Thursday the fixed-rate tranche was talked at 9% to 9¼%, while the floating-rate tranche was talked at the swap equivalent of 9% to 9¼%.
Tranche sizes for the Rule 144A offering remain to be determined.
The fixed-rate notes will come with four years of call protection while the floating-rate notes will be non-callable for one year
Proceeds will be used to fund the acquisition of Colfax & Kilian.
The prospective issuer is a Quincy, Mass.-based maker of industrial power products.
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