Nortek Prices $750M In HY Bonds
May 13, 2008
Home building material provider Nortek priced $750 million in senior notes due 2013 today.The 10% senior notes due 2013 priced with an OID of 98.96. Price talk on the bonds was between 10% and 10.25%. Credit Suisse is the underwriter. The Providence, R.I.-based company plans to use the proceeds, along with the proceeds from a new asset-backed revolving credit facility, to repay its existing senior secured credit facility. Moody’s Investors Service assigned the notes a B1 rating. Standard & Poor’s assigned a B rating.For more information on related topics, visit the following:
