Accellent talks $325 million eight-year notes at 10½%-10¾%; pricing Thursday

By Paul A. Harris

St. Louis, Nov. 16 - Accellent Inc. talked its $325 million offering of eight-year senior subordinated notes at 10½% to 10¾% on Wednesday, according to market sources.

Pricing is expected on Thursday.

Credit Suisse First Boston and JP Morgan are joint bookrunners for the Rule 144A with registration rights offering.

The notes come with four years of call protection.

Moody's Investors Service assigned its Caa1 rating to the notes, and Standard & Poor's rated the notes B-.

Proceeds will be used to fund the acquisition of the company by Kohlberg Kravis Roberts & Co. and to refinance existing debt.

Accellent is a Wilmington, Mass.-based medical device manufacturer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.