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Stoneridge $200 million 10-year notes talk at 11½%-11¾%, pricing Thursday
By Paul A. Harris
St. Louis, Mo., April 23 - Price talk of 11½%-11¾% was heard Tuesday on Stoneridge, Inc.'s upcoming sale of $200 million senior notes due 2012 (B2/B), according to a market source. A Thursday pricing is anticipated.
Deutsche Bank Securities Inc. is the bookrunner. JP Morgan, Morgan Stanley and NatCity Investments are co-managers.
The Rule 144A notes are non-callable for five years.
Proceeds will be used to repay bank debt, and for general corporate purposes.
The Warren, Ohio-based company manufactures electrical components for the auto industry.
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