Panolam to sell $150 million eight-year notes via CSFB

By Paul A. Harris

St. Louis, Aug. 26 - Panolam Industries Inc. plans to sell $150 million of eight-year senior subordinated notes (Caa1) via bookrunner Credit Suisse First Boston, according to an informed source.

Timing remains to be determined.

The company will also obtain a $155 million senior secured credit facility.

Proceeds will be used to fund the acquisition of the company by Genstar Capital, The Sterling Group and management from The Carlyle Group.

Panolam is a Shelton, Conn., provider of decorative surfaces for commercial and residential interiors, store and store fixtures and furniture.

© 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.