Appleton Papers to sell $300 million five-year secured notes Friday

By Paul A. Harris

St. Louis, Jan. 25 - Appleton Papers Inc. plans to price a $300 million offering of five-year senior secured notes (B1/B+) on Friday, according to a market source.

Broadpoint Gleacher Securities and Goldman Sachs & Co. are joint physical bookrunners for the Rule 144A and Regulation S offering.

The notes will be secured by a first-priority lien on certain of the property and assets of Appleton subject to various exceptions and permitted liens.

Proceeds, together with borrowings under Appleton's new revolving credit facility, will be used to repay amounts outstanding under Appleton's existing credit facilities.

The prospective issuer is an Appleton, Wis.-based paper manufacturer.

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