Techniplas to price $175 million five-year notes Friday in 10% area

By Paul A. Harris

Portland, Ore., April 24 – Techniplas, LLC talked a $175 million offering of five-year senior secured notes (expected ratings Caa1/B) with a yield in the 10% area.

The Rule 144A and Regulation S for life deal, via bookrunner Jefferies LLC, is set to price Friday afternoon.

The notes become callable after 2.5 years at par plus 75% of the coupon.

The Nashotah, Wis.-based plastics manufacturer plans to use the proceeds to refinance debt and fund a small acquisition.

Techniplas produces highly engineered and technically complex plastic, modules and subsystems for specific niche applications.

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