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Avintiv calls $304 million of 7¾% notes, $210 million of 6 7/8% notes
By Tali Rackner
Norfolk, Va., Sept. 9 – Avintiv Specialty Materials Inc. issued a conditional notice of its election to redeem all $304 million of its 7¾% senior secured notes due 2019 and $210 million of 6 7/8% senior unsecured notes due 2019, according to an 8-K filing with the Securities and Exchange Commission.
The notes will be redeemed on Oct. 5.
The 7¾% notes will be redeemed at 103.875 plus accrued interest to the redemption date, and the 6 7/8% notes will be redeemed at par plus accrued interest to the redemption date.
The redemption is conditioned on the closing of the acquisition of the company by Berry Plastics Group, Inc., an Evansville, Ind.-based manufacturer and marketer of value-added plastic consumer packaging and engineered materials.
Avintiv is a Charlotte, N.C.-based developer, producer and marketer of specialty materials used in infection prevention, personal care and high performance solutions.
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