Caraustar Industries calls 9 7/8% senior subordinated notes

By Angela McDaniels

Seattle, March 30 - Caraustar Industries Inc. will redeem all of its outstanding $257.5 million 9 7/8% senior subordinated notes due 2011 on May 1, according to a company news release.

Noteholders will receive $105.25 for each $100 principal amount of notes plus interest accrued up to but excluding the redemption date.

Caraustar Industries will use proceeds from its amended and restated $145 million five-year senior secured credit facility and cash to fund the redemption.

The Atlanta recycled packaging company said the redemption is being made as part of its "strategic transformation plan."

© 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.