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Mueller Water Products to sell $350 million senior subordinated notes
By Paul A. Harris and Sara Rosenberg
St. Louis, May 2 - Mueller Water Products, Inc. plans to issue $350 million of senior subordinated notes as part of a debt refinancing transaction, according to a market source.
The refinancing will also include a $1.09 billion credit facility via Banc of America Securities and JP Morgan.
The Atlanta-based manufacturer and marketer of infrastructure and flow control products will use the proceeds to fund the tender for the Mueller Group, LLC/Mueller Group Co-Issuer, Inc. 10% senior subordinated notes due 2012 and 14¾% senior discount notes due 2014.
The consent deadline is May 14.
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