Stoneridge talks $175 million seven-year notes with 9% to 9¼% yield

By Paul A. Harris

St. Louis, Sept. 23 - Stoneridge, Inc. talked its $175 million offering of seven-year senior secured notes with a 9% to 9¼% yield, a market source said on Thursday.

Books close at 10 a.m. ET on Friday.

JP Morgan and Deutsche Bank Securities are the joint bookrunners for the Rule 144A and Regulation S offer.

Proceeds will be used to fund a tender offer for the company's 11½% senior notes due 2012, and to redeem any notes not tendered.

Stoneridge is a Warren, Ohio-based designer and manufacturer of highly engineered electronics for the truck, automotive, agricultural and off-highway vehicle markets.

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