American Color Graphics announces $280 million seven-year notes offering

By Paul A. Harris

St. Louis, June 11 - American Color Graphics Inc. announced it will bring $280 million of senior second secured notes due 2010, in a press release issued Wednesday.

The Brentwood, Tenn. company will use proceeds to redeem its 12¾% senior subordinated notes due 2005, to repay its credit facility, to repurchase all outstanding preferred shares and to cancel all outstanding options to purchase shares of preferred stock of ACG Holdings, Inc.

No underwriters or timing for the Rule 144A offering were disclosed in the press release.

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