Intelligent Packaging to price $75 million tap of 6% notes due 2028 in Monday drive-by

By Paul A. Harris

Portland, Ore., Oct. 26 – IPL Plastics Inc. plans to price a $75 million add-on to the Intelligent Packaging Ltd. Finco Inc. and Intelligent Packaging Ltd. Co-Issuer, LLC 6% senior secured notes due Sept. 15, 2028 (existing ratings B3/B) in a Monday drive-by trailing a late-morning conference call with investors, according to market sources.

BofA Securities, Barclays, Deutsche Bank, BMO, NBC, CIBC, Credit Suisse, MUFG, RBC and TD are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable on Sept. 15, 2022 at 103.

The Montreal-based rigid plastics manufacturer plans to use the proceeds for general corporate purposes, including one or more acquisition opportunities in the near to medium term.

The original $485 million issue priced in August 2020.

The add-on notes are to become immediately fungible with the original notes.

© 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.