TriMas talks $250 million eight-year notes to yield 10 1/8%-10 3/8% with about 2-3 points OID

By Paul A. Harris

St. Louis, Dec. 16 - TriMas Corp. talked its $250 million offering of eight-year second-lien senior secured notes (/B-/) to yield 10 1/8% to 10 3/8% on Wednesday, according to an informed source.

Pricing is set for Thursday morning.

The notes are expected to price with 2 to 3 points of original issue discount.

Credit Suisse Securities, J.P. Morgan Securities Inc., Bank of America Merrill Lynch and Jefferies & Co. are joint bookrunners for the Rule 144A with registration rights offering.

The notes come with four years of call protection and a change-of-control put at 101%.

Proceeds will be used to fund the tender and/or redemption of TriMas' 9 7/8% senior subordinated notes.

The prospective issuer is a Bloomfield Hills, Mich.-based manufacturer of industrial-supply products.

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