Pregis to redeem $150 million notes, €25 million floaters due 2013

By Susanna Moon

Chicago, March 23 - Pregis Corp. said it plans to redeem its $150 million principal amount of senior subordinated notes due 2013 as well as its remaining €25 million of senior secured floating-rate notes due 2013.

The company will redeem the notes at par plus accrued interest as of April 26, according to a press release.

Pregis will fund the redemption with proceeds from a term loan and revolving credit facility that closed on March 23.

As previously reported, the company redeemed €200 million of the floaters on Feb. 23.

Deerfield, Ill.-based Pregis makes protective packaging products and specialty packaging products.

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