Viasystems says Hicks Muse buys bonds, bank debt; hires Rothschild to advise

New York, March 28 - Viasystems Group, Inc. said investment firm Hicks, Muse, Tate & Furst Inc. has bought more of its notes and bank debt. The St. Louis, Mo. electronic manufacturing services company also said it hired Rothschild Inc. to advise on alternatives for recapitalization.

Viasystems said Hicks Muse has bought $232 million of Viasystems' 9¾% senior subordinated notes and $51 million of its bank debt in the open market.

Previously Hicks Muse held Viasystems equity and $100 million of 14% senior unsecured notes.

Viasystems said Hicks Muse now owns 52% of its equity and 55% of its unsecured debt.

Rothschild will be advising the company on options to reduce its debt and strengthen its balance sheet.

"We are convinced that Viasystems has some of the most advanced product capabilities coupled with the lowest cost position in the electronics manufacturing services industry, which provide extraordinary value to its customers," said Thomas O. Hicks, chairman and chief executive officer of Hicks Muse and chairman of Viasystems, in a news release.

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