Newport Global buys Pliant series AA convertible preferreds

By Lisa Kerner

Charlotte, N.C., June 9 - Newport Global Opportunities Fund LP bought 29,400 shares, or 8.8%, of Pliant Corp.'s series AA 13% cumulative redeemable convertible preferred stock between March 20 and June 3.

The shares were priced from $133.75 to $437.50 each, according to a schedule 13D filed with the Securities and Exchange Commission.

Pliant is a Schaumburg, Ill.-based producer of value-added film and flexible packaging products.

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