Signature Group announces $300 million secured bonds for acquisition

By Paul A. Harris

Portland, Ore., Oct. 17 – Signature Group Holdings, Inc. announced in a Friday press release that it plans to make a private offering of $300 million senior secured bonds as part of the financing for its acquisition of the Global Recycling and Specification Alloys business from Aleris Corp.

An investor call to discuss the acquisition is scheduled for 8:30 a.m. ET Tuesday.

Deutsche Bank Securities Inc. acted as exclusive financial adviser to Signature. Credit Suisse Securities (USA) LLC and KeyBanc Capital Markets Inc. acted as financial advisers to Aleris.

Financing for the acquisition, valued at $525 million, will also include proceeds from a registered offering of common stock, according to the Friday press release.

Signature is a Sherman Oaks, Calif.-based holding company that invests primarily in the U.S. industrial and commercial marketplace.

Global Recycling is a Cleveland-based recycled aluminum company.

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