Packaging Dynamics' $400 million notes for redemption, loan repayment

By Toni Weeks

San Diego, Jan. 18 - Packaging Dynamics Corp. said in a press release that the proceeds of its $400 million offering of five-year senior secured notes due 2016 announced Tuesday will be used to redeem all of the company's outstanding senior subordinated notes due 2016, to repay in full the company's senior secured credit facility and to pay a cash dividend.

Packaging Dynamics, based in Chicago, is a flexible packaging company.

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