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Hillman Group talks $150 million eight-year notes to yield 10¾%-11%
By Paul A. Harris
St. Louis, May 17 - The Hillman Group, Inc. talked its $150 million offering of eight-year senior notes (B3/CCC+) to yield 10¾% to 11%, an informed source said on Monday.
The order books close noon ET on Tuesday, except for West Coast accounts.
Pricing is set for Tuesday afternoon or Wednesday morning.
Barclays Capital Inc. and Morgan Stanley & Co. Inc. are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering.
The notes come with four years of call protection and with a three-year 35% equity clawback.
Proceeds will be used to fund the leveraged buyout of the company by Oak Hill Capital and to refinance existing debt.
The Hillman Group is a Cincinnati-based distributor of stock-keeping units and provider of inventory management and in-store merchandising services.
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