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AEP Industries to launch $175 million eight-year notes Tuesday
By Paul A. Harris
St. Louis, Feb. 28 - AEP Industries Inc.'s $175 million offering of eight-year senior notes (confirmed B2/expected B) will launch in a roadshow beginning Tuesday, according to a market source.
The offering is expected to price on March 11.
Merrill Lynch & Co. is the bookrunner for the Rule 144A/Regulation S offering. Deutsche Bank Securities is the co-manager.
The notes will come with four years of call protection.
Proceeds, along with borrowings from the company's revolving credit facility, will be used to repurchase $200 million of its 9 7/8% senior subordinated notes due 2007.
AEP Industries is a South Hackensack, N.J.-based manufacturer, marketer and distributor of plastic packaging products for the food and beverage markets as well as the industrial and agricultural markets.
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