New Issue: Accellent prices $315 million seven-year senior subordinated notes at par to yield 10%

By Paul A. Harris

St. Louis, Oct. 20 - Accellent Inc. priced a $315 million issue of seven-year senior subordinated notes (Caa2/CCC+/) at par to yield 10% on Wednesday, according to an informed source.

The yield printed at the wide end of the 9 7/8% area price talk.

Goldman Sachs & Co., Credit Suisse Securities, KKR Capital Markets, Wells Fargo Securities and UBS Investment Bank were the joint bookrunners.

Accellent Holdings plans to use the net proceeds to finance its separately announced tender offer for its $295 million of 10½% senior subordinated notes due 2013.

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

Issuer:	Accellent Inc.
Amount:	$315 million
Maturity:	Nov. 1, 2017
Securities:	Senior subordinated notes
Bookrunners:	Goldman Sachs & Co., Credit Suisse Securities, KKR Capital Markets, Wells Fargo Securities, UBS Investment Bank
Coupon:	10%
Price:	Par
Yield:	10%
Call features:	Make-whole call at Treasuries plus 50 bps until Nov. 1, 2013, then callable at 107.5, 105, 102.5, par on and after Nov. 1, 2016
Equity clawback:	35% at 110.0 until Nov. 1, 2013
Trade date:	Oct. 20
Settlement date:	Oct. 28
Ratings:	Moody's: Caa2
	Standard & Poor's: CCC+
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	9 7/8% area
Marketing:	Brief roadshow

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