Xerium Technologies sets IDS price range at $15.20-$16.80

By Paul A. Harris

St. Louis, Aug. 20 - Xerium Technologies Inc. set a $15.20 to $16.80 per share price range for its offering of 40.625 million Income Deposit Securities (IDS) in a S-1A document filed Friday with the Securities and Exchange Commission.

CIBC World Markets is the bookrunner. Citigroup, Merrill Lynch & Co., Robert W. Baird & Co., Calyon Securities, KeyBanc Capital Markets and Legg Mason are the co-managers.

The securities will be comprised of 40.625 million shares of class A common stock and $298.6 million of senior subordinated notes due 2019.

The company is also making a separate offering of $52.4 million of senior subordinated notes due 2019.

Proceeds will be used to repay debt, including senior and mezzanine credit facilities, and to redeem part of its class A common stock.

The Westborough, Mass., company is a manufacturer of clothing and machinery covers.

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