Viasystems talks $220 million five-year secured notes to yield 13%

By Paul A. Harris

St. Louis, Nov. 9 - Viasystems, Inc. set price talk for its $220 million offering of senior secured notes due January 2015 (B3/B+) to yield 13%, with approximately 4 points of original issue discount, market sources told Prospect News on Monday.

The books close at 10 a.m. ET on Tuesday, with the notes expected to price thereafter.

Goldman Sachs & Co. and Wells Fargo Securities will lead the Rule 144A for life deal.

The notes will come with 2.5 years of call protection.

Proceeds will be used to fund the tender for Viasystems' $200 million of 10½% senior subordinated notes due 2011 and to redeem or otherwise repurchase any 2011 notes that remain outstanding after the expiration of the tender.

Viasystems is a St. Louis-based provider of complex multi-layer PCBs and electro-mechanical solutions.

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