AMH Holdings $258 million 10-year notes talked 11%-11¼%, to price Friday

By Paul A. Harris

St. Louis, Feb. 26 - Price talk of 11% to 11¼% emerged Thursday on AMH Holdings Inc.'s proposed $258 million proceeds offering of 10-year senior discount notes (Caa1/B-), according to an informed source.

The deal is expected to price on Friday.

UBS Investment Bank is the bookrunner on the Rule 144A offering.

The notes come with five years of call protection.

Proceeds will be used to redeem $177.5 million of holding company preferred stock, to pay a $59 million cash dividend to shareholders and fund a $15 million special bonus to management.

The prospective issuer is the parent of Cuyahoga Falls, Ohio-based Associated Materials Inc., a maker of vinyl, aluminum and steel siding, vinyl windows, fencing, decking and railings.

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