Sweetheart to redeem 9½% senior secured notes, 9½% senior subordinated notes

New York, Dec. 24 - Sweetheart Cup Co. will redeem its recently issued 9½% senior secured notes due 2007 as well as its 9½% senior subordinated notes due 2007 issued in 1997 under the announced acquisition of the company by Solo Cup Co.

The an Owings Mills, Md. maker of disposable food service products priced $95 million of the 9½% senior secured notes on Dec. 5 at par. They are callable immediately at 102.

The senior subordinated notes become callable on March 1, 2004. Sweetheart will defease the notes immediately before the transaction with Solo becomes effective.

Details of the redemptions are included in the acquisition agreement, a copy of which was filed with the Securities and Exchange Commission.

Sweetheart announced on Monday that it was being acquired by Solo, a Highland Park, Ill. company in the same business.

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