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Stanadyne to price $55 million proceeds 10-year discount notes
By Paul A. Harris
St. Louis, Dec. 14 - Stanadyne Holdings Inc.'s quick-to-market $55 million proceeds offering of 10-year senior discount notes (B-) is talked at 11¾% to 12%, according to market sources.
The issue is expected to price on Wednesday or Thursday.
The note will have a five-year zero coupon and is non-callable for five years.
Goldman Sachs & Co. is the bookrunner for the Rule 144A/Regulation S offering.
Proceeds will be used to fund a distribution to stockholders. The sponsor is Kohlberg & Co.
Stanadyne is a Windsor, Conn.-based provider of technology and services for engine components and fuel systems.
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