New Issue: Atrium prices $50 million add-on to 10½% notes at 106.875 to yield 5.88%

By Paul A. Harris

St. Louis, Dec. 3 - Atrium Cos., Inc. priced a $50 million add-on to its 10½% senior subordinated notes due May 1, 2009 (B3/B-) at 106.875 on Wednesday for a 5.88% yield to worst.

UBS Investment Bank and CIBC World Markets were joint bookrunners on the Rule 144A deal.

Proceeds will be used to help fund the acquisition of the company by Kenner & Co., including repaying existing bank debt and partially repaying existing its accounts receivable securitization facility and holding company PIK notes.

Atrium is a Dallas-based window manufacturer.

Issuer:	Atrium Cos., Inc.
Face amount:	$50 million
Proceeds:	$53.4375 million
Security description:	Add-on to 10½% senior subordinated notes due 2009
Bookrunners:	UBS Investment Bank, CIBC World Markets
Maturity:	May 1, 2009
Coupon:	10½%
Price:	106.875
Yield to worst:	5.88%
Spread to worst:	480 basis points
Call:	May 1, 2004 onwards at 105.25, then 103.5, 101.75, declining to par on May 1, 2007
Settlement date:	Dec. 10 flat
Ratings:	Moody's: B3
	Standard & Poor's: B-
Rule 144A Cusip:	04962VAF6

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.