Tower Automotive to sell $450 million seven-year first-lien notes

By Paul A. Harris

St. Louis, Aug. 11 - Tower Automotive Holdings USA, LLC and TV Holdings Finance, Inc. kicked off a $450 million offering of seven-year senior secured first-lien notes (/B/) on Wednesday, according to an informed source.

JP Morgan, Citigroup and Goldman Sachs & Co. are joint bookrunners for the Rule 144A and Regulation S for life offer.

Bank of America Merrill Lynch and Wells Fargo Securities are the co-managers.

Specific timing on the deal remains to be determined, a syndicate source said late Wednesday.

The notes come with four years of call protection.

Proceeds will be used to repay bank debt.

Tower Automotive is a Livonia, Mich.-based supplier of automotive metal structural components and assemblies.

© 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.