New Issue: TriMas 10-year notes upsized to $350 million proceeds, yield 10%

By Paul A. Harris

St. Louis, Mo., May 23 - TriMas Corp. upsized to $352.773 million from $250 million its offering of senior subordinated notes due June 15, 2012 and priced them Thursday at 99.214 to yield 10%, according to a syndicate source. Proceeds from the offering were $350 million.

Price talk was for a yield in the 10¼% area.

Credit Suisse First Boston, JP Morgan and Wachovia Securities were joint bookrunners. Co-managers were Comerica Securities, Inc. and NatCity Investments, Inc.

Proceeds will be used to partially fund the acquisition by Heartland Partners of TriMas, which is being spun out of Metaldyne, Inc.

The specialty products company is located in Plymouth, Mich.

Issuer:	TriMas Corp.
Amount:	$352.773 million
Proceeds:	$350 million (increased from $250 million)
Maturity:	June 15, 2012
Type:		Senior subordinated notes
Bookrunners:	Credit Suisse First Boston, JP Morgan, Wachovia Securities
Coupon:	9 7/8%
Price:	99.214
Yield:	10%
Price talk:	10¼% area
Spread:	495 basis points over the 4 7/8% Treasury due Feb., 2012
Call features:	Callable on June 15, 2007 at 104.938, 103.292, 101.646, par on June 15, 2010 and thereafter
Equity clawback:	Until June 15, 2005 at 109.875 for up to 35%
Settlement date:	June 6, 2002 (T+9)
Interest Payment Dates:	June 15 and Dec. 15, commencing Dec. 15, 2002
Ratings:	Moody's: B3
	Standard & Poor's: B
Rule 144A Cusip:	896215AB6

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