Providence-based Ply Gem Industries Inc., the maker of
building supplies that bought MW Manufacturers Inc., plans to
sell $105 million of notes maturing in February 2012, said a
person familiar with the sale who declined to be identified.
The offering will take place next week, the person said. UBS
AG, Deutsche Bank AG and JPMorgan Chase & Co. are managing the
sale, the source said. The securities will be added to an issue
with a 9 percent coupon and $225 million of senior subordinated
notes outstanding, according to Bloomberg data.
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The offering is rated B3 by Moody’s Investors Service and B-
by Standard & Poor’s, six levels below investment grade. Ply Gem
is owned by leveraged-buyout company Caxton-Iseman Capital Inc. Ply Gem purchased MW Manufacturers from Investcorp Bank EC last month.
Bloomberg News
