Exopack talks $235 million eight-year notes at 10 7/8%-11 1/8%

By Paul A. Harris

St. Louis, Jan. 25 - Exopack Holding Corp. talked its $235 million offering of eight-year senior notes at 10 7/8% to 11 1/8% on Wednesday, according to an informed source.

The books are scheduled to close at 11 a.m. ET Thursday, with pricing to follow.

Goldman Sachs & Co. has the books for the notes, which are being marketed via Rule 144A with registration rights and via Regulation S. Lehman Brothers and Harris Nesbitt are co-managers.

The notes come with four years of call protection.

Proceeds will be used to refinance existing debt related to the acquisition of the company by Sun Capital.

Moody's Investors Service assigns its B2 rating to the notes. Standard & Poor's rates the notes B-.

Exopack is a Boca Raton, Fla., flexible packaging converter and provider of paper and plastic packaging solutions.

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