Accuride starts roadshow for $300 million eight-year secured notes

By Paul A. Harris

St. Louis, July 19 - Accuride Corp. began a roadshow on Monday for its $300 million offering of eight-year first-priority senior secured notes, according to an informed source.

The deal is expected to price during the July 26 week.

Credit Suisse and Deutsche Bank Securities Inc. are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

The notes become callable in year four at par plus one-half the coupon. The notes feature a special call entitling the issuer to redeem 10% of the issue per year at 103.0 during the non-call period.

The notes are secured by a first lien on real property and on tangible and intangible assets and a second lien, behind the asset-backed loan, on accounts receivable and inventories.

Proceeds, together with approximately $10 million under a new asset-based revolver, and cash on hand will be used to refinance the company's existing senior credit facility.

Accuride is an Evansville, Ind.-based manufacturer and supplier of commercial vehicle components.

© 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.