AEP Industries to sell $200 million eight-year notes late April 4 week

By Paul A. Harris

Portland, Ore., April 4 - AEP Industries Inc. plans to conduct an investor roadshow for a $200 million offering of eight-year senior notes during the April 4 week, according to an informed source.

The Rule 144A with registration rights deal is set to price late in the week.

Merrill Lynch is the bookrunner. Wells Fargo Securities is the co-manager.

The notes become callable in three years at par plus 75% of the coupon. The notes feature a 101% poison put.

Credit ratings remain to be determined.

The South Hackensack, N.J., plastic packaging manufacturer plans to use the proceeds to fund the tender offer for its 7 7/8% notes due 2013 and to repay all amounts outstanding under its credit facility.

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