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Panolam $150 million eight-year notes expected in September
By Paul A. Harris
St. Louis, Aug. 30 - Panolam Industries Inc. is expected to launch its $150 million offering of eight-year senior notes (Caa1) in September, according to an informed source.
Credit Suisse First Boston and Jefferies & Co. are joint bookrunners.
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.
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