Apex Tool expected to sell $450 million notes in mid-January

By Paul A. Harris

Portland, Ore., Jan. 4 - Apex Tool Group LLC is expected to make a $450 million offering of high-yield notes in mid-January, market sources say.

The deal could come as early as the Jan. 7 week, or surface sometime during the following week.

Goldman Sachs & Co., Barclays, Morgan Stanley & Co., Citigroup Global Markets, RBC Capital Markets and Deutsche Bank Securities Inc. are the joint bookrunners.

Proceeds will be used to help fund the buyout of the company by Bain Capital from Cooper Industries and Danaher Corp.

Apex Tool is a Sparks, Md.-based tool manufacturer.

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