Stoneridge launches $200 million term loan

By Sara Rosenberg

New York, July 16 - Stoneridge Inc. commenced general syndication of a new $200 million senior secured term loan, according to a news release.

Credit Suisse and Deutsche Bank are the joint bookrunners and joint lead arrangers on the deal.

Proceeds will be used to redeem the company's outstanding $200 million of 11½% senior notes due May 1, 2012.

Stoneridge is a Warren, Ohio, designer and manufacturer of highly engineered electrical and electronic components, modules and systems principally for the automotive, medium- and heavy-duty truck, agricultural and off-highway vehicle markets.

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