Sweetheart Cup starts roadshow Wednesday for $95 million five-year notes

By Paul A. Harris

St. Louis, Dec. 2 - Sweetheart Cup Co. Inc. starts the roadshow Wednesday for an offering of $95 million senior secured notes due 2007 (expected ratings Caa1/CCC), according to an informed source.

The deal is expected to price late in the week of Dec. 8 or early the following week.

Jefferies & Co. is the bookrunner for the Rule 144A notes, which will become callable immediately after closing.

The company will also sell $20 million of 9½% junior subordinated notes due 2008 to International Paper Co.

Sweetheart will use proceeds from the notes to repay part of its senior credit facility and to redeem its 12% senior notes due 2004

The company is an Owings Mills, Md. converter and marketer of disposable food service products.

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