Libbey Glass plans to launch new loan to investors on Wednesday

By Sara Rosenberg

New York, March 25 - Libbey Glass Inc. is set to hold a bank meeting at noon ET in New York on Wednesday to launch a new loan, according to a market source.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Barclays and Fifth Third Securities Inc. are the lead arrangers on the deal.

Earlier this month, the company announced plans to purchase up to $360 million of its 6 7/8% senior secured notes due 2020 in a tender offer that expires on April 8.

Following completion of the tender offer, the company intends to redeem the remaining $45 million of the notes.

The tender offer is contingent on the consummation of a new debt financing, the amending of, or the receipt of, any required consents under the existing amended and restated credit agreement, and other customary conditions.

Libbey is a Toledo, Ohio-based manufacturer of glass tableware.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.