Advanced Accessory $150 million eight-year notes talked at 10¾%-11%, pricing Tuesday

By Paul A. Harris

St. Louis, May 19 - Price talk of 10¾%-11% emerged Monday on Advanced Accessory Systems LLC's upcoming sale of $150 million guaranteed senior notes due 2011 (B2), according to market sources.

The deal is expected to price Tuesday, the sources added.

Deutsche Bank Securities Inc. is the bookrunner for the Rule 144A transaction. Credit Suisse First Boston is joint lead manager.

The notes are non-callable for four years

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

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.