Pfleiderer to redeem €321.68 million 7 7/8% notes in ‘refined’ plan

By Susanna Moon

Chicago, Feb. 28 – Pfleiderer Group SA said it plans to redeem the €321,684,000 of 7 7/8% senior secured notes due June 30, 2019 issued by PCF GmbH, formerly Pfleiderer GmbH.

Pfleiderer said on Dec. 8 that it planned to refinance the 7 7/8% notes using proceeds of a new loan but then said on Tuesday that it “has refined its refinancing plans” for the notes as well as the €60 million and PLN 200 million revolving facilities.

“Based on the current strong and favorable conditions in the institutional loan and bond markets, the company is currently working on a capital markets oriented refinancing solution for its notes and the existing facilities, to enhance the company’s operational flexibility and financing cost,” according to a company announcement.

The 7 7/8% senior secured notes due June 30, 2019 were issued on July 4, 2014.

Pfleiderer is a Dusseldorf, Germany-based wood products supplier.

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