Accellent Inc. is planning a private sale of debt worth $315 million.
The Wilmington, Mass.-based company plans to use the offering of senior subordinated notes to fund its announced cash tender offer to repurchase its outstanding 10.5 percent senior subordinated notes due 2013 and to redeem "the 2013 notes that remain outstanding following the consummation of the tender offer." The notes would be due in 2017.
The manufacturing and engineering outsourcing firm expects that the notes will be guaranteed, with certain exceptions, by all of the its "existing and future domestic restricted subsidiaries on a senior subordinated basis," according to a press release.
The offering is private and its notes and related guarantees will only be offered to qualified institutional buyers.
This latest offering would add to the $400 million in 8.375 percent interest senior secured notes that mature on Feb. 1, 2017, according to the company’s latest 10-Q.