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Affinity Group Sells $333M in Six-Year Notes

Affinity Group Inc. on Monday (Nov. 15) priced an offering of $333 million in 11.5% senior secured notes due 2016 at an issue price of 97.902.

The funding is scheduled to occur Nov. 30, and the proceeds of the issuance will be used to repay all of the group’s outstanding indebtedness and extend the maturity of all the company’s funded debt for six years, according to AGI President and CEO Mike Schneider.

“This new maturity structure provides for stability and growth as Affinity looks towards the future and continues to serve its customers as the largest provider of products and services to the RV community nationwide,” said Schneider.

“This new capital structure is a testament to the confidence these financial institutions have in Affinity Group,” he added. “We’re excited about the prospects of growth we’ll continue to have in the outdoor recreation markets we so proudly serve.”

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