New Issue: TriMas prices $300 million eight-year notes at par to yield 4 7/8%

By Paul A. Harris

Portland, Ore., Sept. 13 – TriMas Corp. priced a $300 million issue of eight-year senior notes (B1/B+) at par to yield 4 7/8% on Wednesday, according to market sources.

The yield printed 12.5 basis points inside of the 5% to 5¼% yield talk.

BofA Merrill Lynch, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities LLC were the joint bookrunners.

The Bloomfield Hills, Mich.-based diversified industrial manufacturer plans to use the proceeds to pay off its term loan A facility due 2020 under its amended and restated credit agreement, and to repay a portion of outstanding obligations under its accounts receivable facility.

Issuer:	TriMas Corp.
Amount:	$300 million
Maturity:	Oct. 15, 2025
Securities:	Senior notes
Bookrunners:	BofA Merrill Lynch, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Wells Fargo Securities LLC
Co-managers:	KeyBanc Capital Markets, BMO Capital Markets Corp., Citizens, HSBC Securities (USA) LLC
Coupon:	4 7/8%
Price:	Par
Yield:	4 7/8%
Spread:	279 bps
First call date:	Oct. 15, 2020
Trade date:	Sept. 13
Settlement date:	Sept. 20
Ratings:	Moody's: B1
	S&P: B
Distribution:	Rule 144A for life
Price talk:	5% to 5¼%
Marketing:	Roadshow

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