Heckler & Koch mandates Close Brothers for high-yield notes offering

By Paul A. Harris

Portland, Ore., March 1 - Heckler & Koch GmbH mandated Close Brothers Seydler Bank to manage the placement of an expected €100 million offering of high-yield notes, according to a press release from the company.

The notes are expected to close by the end of the second quarter of this year and are also expected to be sold with a maturity of between five and seven years.

The Oberndorf, Germany-based small-arms maker plans to use the proceeds, along with liquidity from other assets, to refinance its existing €120 million of 9¼% notes due July 15, 2011.

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