Accellent shops $315 million subordinated notes to fund tender offer

By Paul Deckelman

New York, Oct. 14 - Accellent Inc. is expected to bring a $315 million offering of seven-year senior subordinated notes to market early next week, high-yield syndicate sources said on Thursday.

They said that Goldman Sachs & Co. would be the left-side joint bookrunner on the deal, to be joined by UBS Investment Bank.

In announcing the deal, which will be sold under Rule 144A and Regulation S, the wholly owned subsidiary of Accellent Holdings Corp. said that it plans to use the net proceeds to finance its separately announced tender offer for its $295 million of 10½% senior subordinated notes due 2013. Those bonds are rated Caa2 by Moody's Investors Service and CCC+ by Standard & Poors.

Accellent is a Wilmington, Mass.-based provider of manufacturing and engineering services to the medical device industry.

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