Hilite International withdraws $150 million seven-year note offering

By Paul A. Harris

St. Louis, Feb. 11 - Hilite International Inc. withdrew its $150 million offering of seven-year senior subordinated notes (B3/B), according to market sources.

One source told Prospect News that talk on the deal was pushing out toward 11% from the 10¾% official price talk heard earlier in the week.

JP Morgan was the bookrunner.

The company will seek to repay its bank debt through new financing in the leveraged loan market, one source said.

Hilite International is a Cleveland precision valve maker.

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