MSX downsizes four-year notes to $75.5 million, to sell at discount to yield 11¼%

By Paul A. Harris

St. Louis, July 24 - MSX International, Inc. downsized to $75.5 million from $100 million its offering of senior secured notes due 2007 (B2/B) and is expected to price the deal at a discount to yield 11¼%, according to a market source.

Jefferies & Co. is bookrunner on the Rule 144A deal.

Proceeds from the four-year-non-call-two notes will be used to repay bank debt.

The company is a Southfield, Mich. provider of technical business services.

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