CPM Holdings mulls refinancing options for high-yield bonds

By Jennifer Chiou

New York, July 25 - CPM Holdings Inc. is considering options to refinance its existing debt, including its high-yield bonds, according to an 8-K filing with the Securities and Exchange Commission.

The company is expected to hold a bank meeting on Tuesday morning to launch a $500 million credit facility, the proceeds of which will be used to refinance existing bonds and to fund a distribution to shareholders.

CPM said it expects discussions with third parties to begin in the near term.

The Waterloo, Iowa-based company is a supplier of process equipment used for oilseed processing and animal feed production.

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