Chicago, March 31 – KP Tissue Inc. announced that Kruger Products LP sold C$135 million of 5 3/8% senior notes due April 9, 2029 on Wednesday, according to a press release.
The notes will be unconditionally guaranteed by certain subsidiaries of Kruger Products.
Scotia Capital Inc., CIBC World Markets Inc. and National Bank Financing Inc. are joint bookrunners for the offering.
Proceeds will be used to reduce the balance under the company’s syndicated credit facility and for general corporate purposes.
KP Tissue is a holding company with a limited partnership interest in Kruger. Kruger Products is a Mississauga, Ont.-based manufacturer of tissue products.
| Issuer: | Kruger Products LP
|
| Issue: | Senior notes
|
| Amount: | C$135 million
|
| Maturity: | April 9, 2029
|
| Bookrunners: | Scotia Capital Inc., CIBC World Markets Inc. and National Bank Financing Inc.
|
| Coupon: | 5 3/8%
|
| Trade date: | March 31
|
| Settlement date: | April 8
|
| Distribution: | Canada
|
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