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Kleopatra to redeem all €264.74 million 10¼%/11% PIK notes due 2017
New York, April 15 – Kleopatra Holdings 1 said it will redeem all €264.74 million of its 10¼%/11% senior PIK notes due 2017.
The company will pay 102% of par for the notes plus accrued interest up to the redemption date, which will be May 13.
Interest for the next payment date will be in cash, the issuer said.
The redemption is subject to the company closing on a new term loan or other debt facilities of at least €831 million in size, according to a notice.
Kleopatra Holdings is a holding company for Klöckner Pentaplast GmbH, a Montabaur, Germany-based packaging producer.
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