Advanced Accessory Systems starts roadshow for $150 million eight-year notes

By Paul A. Harris

St. Louis, May 12 - Advanced Accessory Systems LLC began the roadshow Monday for $150 million of guaranteed senior notes due 2011 (B2), according to a syndicate source.

The deal will likely price on May 20, the source added.

Deutsche Bank Securities, Inc. is the bookrunner for the Rule 144A deal. Credit Suisse First Boston is co-manager.

The notes will be non-callable for four years. The company will also obtain a $60 million asset-based credit facility.

Proceeds will be used to help fund the leveraged buyout of the company from JP Morgan Partners by Castle Harlan, including the repayment of $125 million of 9¾% guaranteed senior subordinated notes at 104.875.

The company is a Sterling Heights, Mich.-based automotive parts maker.

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