Published on 6/12/2014 in the Prospect News High Yield Daily.
New Issue: Chassix prices $25 million tap of 9¼% notes due 2018 at 107.25 to yield 6.475%
By Paul A. Harris
Portland, Ore., June 12 – Chassix, Inc. priced a $25 million add-on to its 9¼% senior secured notes due Aug. 1, 2018 at 107.25 on Thursday, according to a syndicate source.
The yield to worst is 6.475%. The yield to maturity is 7.183%.
BofA Merrill Lynch was the bookrunner.
Chassix is a Southfield, Mich.-based manufacturer and supplier of aluminum and iron chassis sub-frame components, including steering knuckles, control arms, sub-frames and assemblies.
| Issuer: | Chassix, Inc.
|
| Amount: | $25 million
|
| Maturity: | Aug. 1, 2018
|
| Security description: | Add-on to 9¼% senior secured notes due Aug. 1, 2018
|
| Bookrunner: | BofA Merrill Lynch
|
| Coupon: | 9¼%
|
| Price: | 107.25
|
| Yield to worst: | 6.475%
|
| Yield to maturity: | 7.183%
|
| First call: | Aug. 1, 2015 at 104.625
|
| Trade date: | June 12
|
| Settlement date: | June 17 with accrued interest
|
| Distribution: | Rule 144A and Regulation S for life
|
| Marketing: | Quick to market
|
| Original issue: | $350 million priced at par on July 17, 2013
|
| Total issue size: | $375 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
