Rexnord to sell $460 million senior notes in January via three dealers

By Paul A. Harris

St. Louis, Dec. 20 - Rexnord Corp., a Milwaukee-based power train manufacturer, is expected to bring $460 million of senior notes to the high-yield market during January, according to an informed source.

Credit Suisse, Banc of America Securities LLC and UBS Investment Bank will lead the deal.

The notes are expected to be issued under the indenture of the company's existing 9½% senior notes due Aug. 1, 2014 or its 11¾% senior subordinated notes due Aug. 1, 2016.

The proceeds will be used to help fund the acquisition of Jacuzzi Brands, Inc.'s "Zurn" plumbing products business for about $950 million.

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