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Exopack talks $325 million six-year notes to yield in 8% area
By Paul A. Harris
Portland, Ore., Oct. 23 - Exopack Holding Corp. talked its $325 million offering of six-year senior notes (Caa2/B-) to yield in the 8% area on Wednesday, according to market sources.
The deal is expected to price on Thursday.
Goldman Sachs & Co., J.P. Morgan Securities LLC, BofA Merrill Lynch, Barclays, Investec and Morgan Stanley & Co. LLC are the joint bookrunners for the Rule 144A for life notes.
The notes come with three years of call protection.
Proceeds will be used to refinance debt and to put cash on the balance sheet.
Exopack is a Chicago-based manufacturer of plastic packaging products.
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