Hillman seen launching $270 million notes Monday via Morgan Stanley

By Paul A. Harris

Portland, Ore., June 3 - Hillman Group Inc. is expected to launch a $270 million offering of senior notes due 2022 (Caa2/CCC+) on Monday, market sources say.

The deal, which is being led by Morgan Stanley & Co., with other banks to be announced, is expected to price on Thursday.

Commitments to the bridge loan backing the bonds were due on Tuesday.

Proceeds will be used to help fund the leveraged buyout of the company by CCMP Capital Advisors LLC from Oak Hill Capital Partners, as well as to repay bank debt and redeem Hillman's 10 7/8% notes due 2018.

In addition to the bonds the company is putting in place a $680 million credit facility.

Cincinnati-based Hillman supplies fasteners, key duplication systems, engraved tags and related hardware items.

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