KI Holdings to redeem some Koppers 9 7/8% senior notes with IPO proceeds

By Ted A. Knutson

Washington, Sept. 12 - KI Holdings Inc. said it will use an unspecified share of its estimated $125 million gross initial public offering of common stock to buy stock in Koppers Inc. which will in turn use the proceeds to redeem some of Koppers' 9 7/8% senior secured notes due 2013 at a price of 109.875% of the principal amount.

Koppers has $320 million in principal of the notes outstanding.

KI made the announcement in an S-1 registration statement with the Securities and Exchange Commission.

Credit Suisse First Boston and UBS Investment Bank are the underwriters.

The Pittsburgh-based company is applying to list its common stock on the New York Stock Exchange under the symbol "KOP."

Both KI and Koppers make carbon compounds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.