Alliance One to fully repay senior secured revolver via note offering

By Tali Rackner

Norfolk, Va., Sept. 27 – Alliance One International, Inc. plans to repay all outstanding debt and accrued interest owed under its existing senior secured revolving credit facility with the proceeds from a new $275 million senior secured first-lien note offering, according to a press release.

Remaining proceeds will be used for general corporate purposes, which is anticipated to result in a reduction in the amount of borrowings under the company’s foreign seasonal lines of credit as those lines are renewed or replaced.

Alliance One is a leaf tobacco merchant based in Morrisville, N.C.

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