Maker of Fender guitars files for $200M IPO - CBS 5 - KPHO

Maker of Fender guitars files for $200M IPO

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NEW YORK (AP) -

The Scottsdale company that makes Fender guitars says it is going public with a $200 million IPO.

The iconic guitar maker was founded in 1946 by Leo Fender, and Fender guitars were played by some of the world's biggest music stars, from The Beatles to Jimi Hendrix to Eric Clapton.

Fender Musical Instruments Corp. says it's the country's biggest seller of electric, acoustic and bass guitars. It also makes amplifiers and other instruments including banjos, ukuleles and mandolins.

The company, which recently moved into a new headquarters building in Scottsdale, says about $100 million of the initial public offering's proceeds will go to pay debt.

It intends to list the "FNDR" symbol on the Nasdaq.

Copyright 2012 Associated Press. All rights reserved.

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