Appvion seeks loan amendment to permit $275 million of debt securities

By Sara Rosenberg

New York, Nov. 5 - Appvion Inc. is looking to amend its credit facility to allow for the issuance of up to $275 million of second-lien senior secured debt securities, according to a news release.

Proceeds from the debt securities would be used to redeem all of the company's outstanding 9¾% senior subordinated notes due 2014 and 11¼% second-lien notes due 2015, to pay the redemption premium for the 11¼% notes, to pay fees and expenses and, if there is any amount remaining, for general corporate purposes.

Appvion, formerly Appleton Papers Inc., is an Appleton, Wis.-based producer of thermal, carbonless and security papers and Encapsys products.

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