Hillman planning $150 million offering of senior unsecured notes

By Angela McDaniels

Tacoma, Wash., April 26 - Hillman Cos., Inc. plans to issue $150 million of senior unsecured notes in connection with the expected acquisition of the company by Oak Hill Capital Partners, according to a Hillman news release.

Oak Hill has entered into a definitive agreement to acquire Hillman from Code Hennessy & Simmons, Ontario Teachers' Pension Plan and some members of company management.

The company also expects to enter into a new $320 million senior secured credit facility and that its subordinated debt issuance and existing amended senior credit facility will be refinanced.

Hillman's publicly traded trust preferred securities will remain outstanding, will not be converted or exchanged and will continue to trade on the NYSE Amex.

Cincinnati-based Hillman distributes stock-keeping units and provides inventory management and in-store merchandising services.

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