Hillman upsizes to $330 million, talks eight-year senior notes to yield in 6˝% area

By Paul A. Harris

Portland, Ore., June 11 – Hillman Group Inc. upsized its offering of eight-year senior notes (Caa2/CCC+/) to $330 million from $270 million and talked the notes to price in the 6˝% area, according to a syndicate source.

Books close at 11 a.m. ET on Thursday, and the Rule 144A for life deal is set to price thereafter.

Morgan Stanley & Co. LLC and Barclays are the joint bookrunners. Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. are the co-managers.

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.

With the upsizing of the bonds, Hillman downsized its concurrent term loan by the same amount, $60 million, decreasing its size to $550 million from $610 million.

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

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