Altra Industrial Motion talks $105 million add-on to 9% notes due 2011 at 100.5-101

By Paul A. Harris

St. Louis, April 2 - Altra Industrial Motion Inc. has set price talk for a $105 million add-on to its 9% senior notes due Dec. 1, 2011 (B2/CCC+) at a 100.50 to 101.00 dollar-price range, according to an informed source.

The Rule 144A offering via Jefferies & Co. is expected to price Tuesday morning.

The notes become callable on Dec. 1, 2008 at 104.50 and feature an equity clawback until Dec. 1, 2007 for 35% at 109.00.

Proceeds, along with proceeds from the recent initial public offering and a portion of the company's revolving credit facility, will be used to fund the acquisition of power transmission manufacturer TB Woods Corp.

Altra is a Quincy, Mass.-based electromechanical power transmission products company.

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