Altra Holdings (AIMC) Announces Pricing of Senior Secured Notes of 98.691% of Face Value; Aggregate Principal Amount of $210M

November 17, 2009 9:43 AM EST

Altra Holdings, Inc. (NASDAQ: AIMC), announced today that on November 16, 2009, it priced its private placement offering to eligible purchasers of an aggregate principal amount of $210 million 8.125% senior secured notes due 2016. The Notes are priced at 98.691% of the face value to yield 8.375% to maturity. The offering is expected to settle and close on November 25, 2009, subject to customary closing conditions. The Notes will be guaranteed on a secured basis by Altra Holdings' direct and indirect domestic subsidiaries.

Proceeds of the offering along with cash on hand will be used to repurchase Altra Industrial Motion, Inc.'s outstanding 9% Senior Secured Notes due 2011 tendered pursuant to the tender offer launched on November 10, 2009, by Altra Industrial and to redeem any and all 9% Notes not tendered pursuant to the tender offer, in accordance with the indenture governing the 9% Notes.

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