Hillman plans notes refinancing; trust preferreds to stay outstanding

By Angela McDaniels

Tacoma, Wash., April 26 - Hillman Cos., Inc. plans to refinance its subordinated debt issuance in connection with the expected acquisition of the company by Oak Hill Capital Partners, according to a Hillman news release.

Hillman's publicly traded trust preferred securities will remain outstanding, will not be converted or exchanged and will continue to trade on the NYSE Amex.

Oak Hill has entered into a definitive agreement to acquire Hillman from Code Hennessy & Simmons, Ontario Teachers' Pension Plan and some members of company management.

Hillman also expects to issue about $150 million of senior unsecured notes, enter into a new $320 million senior secured credit facility and refinance its existing amended senior credit facility.

Cincinnati-based Hillman distributes stock-keeping units and provides inventory management and in-store merchandising services.

© 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.