Alliance One announces $790 million second-lien notes offering

By Paul A. Harris

Portland, Ore., July 17 - Alliance One International, Inc. announced in a Wednesday press release that, pending market conditions, it intends to offer $790 million of its eight-year senior secured second lien notes via Rule 144A and Regulation S.

The Morrisville, N.C.-based leaf tobacco merchant plans to use the proceeds to fund the redemption of $635 million of its 10% senior notes due 2016 and to purchase any and all of $115 million of its 5½% convertible senior subordinated notes due 2014 that are tendered in an offer to buy them.

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