By Paul A. Harris
St. Louis, Sept. 22 - Exopack Holding Corp. priced a $100 million add-on to its 11¼% senior notes due Feb. 1, 2014 at 101.656 to yield 10.639% on Wednesday, according to an informed source.
There was no official price talk.
Goldman Sachs & Co. ran the books for the quick-to-market deal.
Proceeds, along with cash on hand, will be used to repay the company's $100 million term loan.
Exopack is a flexible packaging company and provider of paper and plastic packaging solutions.
The company, which is headquartered in Spartansburg, S.C., priced the original $220 million issue in January 2006.
| Issuer: | Exopack Holding Corp.
|
| Issue: | Senior notes add on
|
| Amount: | $100 million
|
| Proceeds: | $101.656 million
|
| Maturity: | Feb. 1, 2014
|
| Bookrunner: | Goldman Sachs & Co.
|
| Coupon: | 11¼%
|
| Price: | 101.656
|
| Yield: | 10.639%
|
| Call protection: | Callable on Feb 1, 2011 at 102.813, par on or after Feb 1, 2012
|
| Trade date: | Sept. 22
|
| Settlement date: | Sept. 24 with accrued interest
|
| Distribution: | Rule 144A and Regulation S with registration rights
|
| Marketing: | Quick to market
|
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