Kappa to redeem all outstanding notes

By Angela McDaniels

Seattle, Dec. 2 - Kappa Beheer BV said it will redeem all of its outstanding notes on Jan. 1, including the €95 million 10 5/8% class A senior subordinated notes due 2009, €370 million 10 5/8% senior subordinated notes due 2009, $100 million 10 5/8% senior subordinated notes due 2009 and €145 million 12½% senior subordinated discount notes due 2009.

The subordinated notes will be redeemed at 103.542% of the principal amount outstanding, plus accrued interest for the period from July 15 to Jan. 1.

The discount notes will be redeemed at 104.167% of the principal amount outstanding, plus accrued interest for the period from July 15 to Jan. 1.

Noteholders of record as of Dec. 19 will be paid on Jan. 3, as the redemption date is a public holiday, the company said.

Kappa is part of the Smurfit Kappa Group, which manufactures packaging materials and is based in Dublin, Ireland, and Eindhoven, the Netherlands.

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