Viasystems Announces Pricing Of $550 Million Of Senior Secured Notes
Viasystems Group, Inc. (NASDAQ: VIAS) (the “Company”) announced today that its wholly owned subsidiary Viasystems, Inc. has priced a private offering (the “Notes Offering”) of $550 million of its 7.875% Senior Secured Notes due 2019 (the “2019 Notes”) at an offering price equal to 100% of par value. The Notes Offering is expected to close on April 30, 2012.
The net proceeds of the Notes Offering will be used to fund the previously announced acquisition of DDi Corp. (NASDAQ: DDIC), to redeem all of Viasystems Inc.’s outstanding $220 million in aggregate principal amount of 12.0% Senior Secured Notes due 2015 (the “2015 Notes”), and to pay transaction fees and expenses related to the Notes Offering and the acquisition of DDi Corp. The 2019 Notes will initially be guaranteed on a senior secured basis by certain of Viasystems, Inc.’s domestic subsidiaries.
The 2019 Notes will not be registered under the Securities Act of 1933 (the “Securities Act”) or the securities laws of any other jurisdiction. As a result, they may not be offered or sold in the United States or to any U.S. persons absent registration or an applicable exemption therefrom. Accordingly, the 2019 Notes will be offered and sold only to “qualified institutional buyers” under Rule 144A of the Securities Act or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. A confidential offering circular will be made available to such eligible holders. The Notes Offering will be conducted in accordance with the terms and subject to the conditions set forth in the offering circular.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the 2019 Notes, nor shall there be any sales of 2019 Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV