Viasystems to price $50 million tap of 7 7/8% notes due 2019 Thursday

By Paul A. Harris

Portland, Ore., April 10 - Viasystems Group Inc. plans to price a $50 million add-on to its 7 7/8% senior notes due May 1, 2019 (existing ratings B1/B+) on Thursday, according to market sources.

Wells Fargo Securities LLC and Stifel Nicolaus & Co. Inc. are leading the Rule 144A and Regulation S deal.

The notes become callable on May 1, 2015 at 105.906.

The St. Louis-based company plans to use the proceeds for general corporate purposes, including to supplement its short-term cash on hand while it recovers the losses related to a September 2012 fire in its Guangzhou manufacturing facility from its insurer.

Viasystems is a provider of complex multilayer printed circuit boards, wire harnesses and electro-mechanical services.

The original $550 million issue priced at par in April 2012.

The add-on notes will be fungible with the original notes.

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