Viasystems Announces Proposed Private Offering of $550M of Senior Secured Notes
Viasystems Group, Inc. (NASDAQ: VIAS), announced today that its wholly owned subsidiary Viasystems, Inc. is proposing to offer in a private placement $550 million in aggregate principal amount of senior secured notes due 2019.
The net proceeds of this offering are intended to 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, and to pay transaction fees and expenses related to the offering and the acquisition of DDi Corp. The Notes will initially be guaranteed on a senior secured basis by certain of Viasystems, Inc.'s domestic subsidiaries.
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