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New Issue-Stoneridge sells $175 mln in first lien sr notes

Fri Sep 24, 2010 1:42pm EDT 

  Sept 24 (Reuters) - Stoneridge Inc (SRI.N) on Friday sold $175 million of first lien senior secured notes in the 144a private placement market, said IFR, a Thomson Reuters service.
  JP Morgan and Deutsche Bank were the joint bookrunning managers for the sale.
BORROWER: STONERIDGE INC
AMT $175 MLN      COUPON 9.50 PCT     MATURITY 10/15/2017
TYPE SR NTS       ISS PRICE 100.00    FIRST PAY 4/15/2011
MOODY'S B3        YIELD 9.50  PCT     SETTLEMENT 10/4/2010
S&P B-PLUS        SPREAD N/A          PAY FREQ SEMI-ANNUAL
FITCH N/A                             NON-CALLABLE 4 YRS*
*MAKE-WHOLE CALL 50 BPS
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