Lecta to redeem floaters due 2018, 8 7/8% notes due 2019 on Aug. 26

New York, July 27 – Lecta SA will redeem its €290,982,000 of floating-rate senior secured notes due 2018 and its €200 million of 8 7/8% senior secured notes due 2019 on Aug. 26.

The company will pay par plus accrued interest for the floaters and 104.438% of par plus accrued interest for the 8 7/8% notes, according to notices from the company.

An exchange offer for the floating-rate notes ended on July 22 and settled on Wednesday. Lecta received tenders for €124,354,000 of the €390 million of notes and accepted €99,018,000, issuing new floating-rate notes due 2022 in return.

In addition, the company priced €600 million of new senior secured notes in two tranches on July 22, selling €225 million of three-month Euribor plus 637.5 basis points floating-rate notes, which priced at 99, and €375 million of fixed-rate notes, which priced at par to yield 6½%.

Lecta is a Barcelona-based manufacturer and distributor of specialty paper for labels and flexible packaging, coated paper for publishing and commercial printing, and other print media.

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