Argo-Tech to start roadshow Monday for $250 million seven-year notes

By Paul A. Harris

St. Louis, June 4 - Argo-Tech Corp.'s roadshow for its $250 million offering of seven-year senior notes (B1/B) will start Monday, according to market sources.

Pricing is expected during the week of June 14.

JP Morgan is the bookrunner for the Rule 144A offering. Jefferies & Co. and NatCity Investments are co-managers.

The notes will come with four years of call protection.

Proceeds, along with the proposed amended and restated senior credit facility and cash on hand, will be used to purchase or redeem $195 million 8 5/8% senior subordinated notes, to repay $19.9 million under the existing senior credit facility and to purchase preferred stock of parent company AT Holdings Corp. for about $57.6 million.

Argo-Tech is a Cleveland, Ohio, manufacturer of aircraft fuel-flow devices.

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