Horizon Global to partly repay term loan via stock, convertibles sales

By Wendy Van Sickle

Columbus, Ohio, Jan. 24 – Horizon Global Corp. plans to repay about $147.5 million of its term loan with proceeds of offerings of common shares and convertible notes, according to an FWP filing with the Securities and Exchange Commission.

The company is planning separate offerings of 3.5 million shares of common stock and $100 million of convertible senior notes due 2022. All of the proceeds of the stock offering and a portion of the proceeds of the offering of convertibles are planned to be applied to the term loan prepayment, the company said.

Wells Fargo Securities LLC, J.P. Morgan Securities LLC, BofA Merrill Lynch and BMO Capital Market will act as joint bookrunners for both offerings.

Horizon Global is a Troy, Mich.-based manufacturer of branded towing and trailering equipment.

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