Stoneridge to redeem outstanding 11½% senior notes due 2012

By Devika Patel

Knoxville, Tenn., July 16 - Stoneridge, Inc. announced that it intends to use a $200 million term loan to refinance its outstanding $200 million 11½% senior notes due May 1, 2012.

The company has begun general syndication for the loan.

Credit Suisse and Deutsche Bank Securities Inc. will act as joint bookrunners and joint lead arrangers for the loan.

The Warren, Ohio-based company manufactures electrical components for the auto industry.

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