Ontex Group launches €250 million seven-year secured note offering

By Paul Deckelman

New York, Nov. 3 – Ontex Group NV announced plans to sell €250 million of euro-denominated fixed-rate notes due 2021.

The notes will be sold in a private placement under Rule 144A and Regulation S.

The company declined to furnish any further information as to the possible timing of the offer or the investment banks that may be involved.

Onex, an Aalst-Erembodegem, Belgium-based manufacturer of branded and retailer-brand disposable hygienic products marketed in Europe, the Middle East and Africa, said that it plans to use the proceeds from the note sale and from a new term loan facility to redeem in full its existing €395 million of 7½% senior secured notes due 2018 and €235 million of 9% senior unsecured notes due 2019.

Ontex separately announced that it had entered into an agreement for senior secured credit facilities that will consist of a €380 million senior term loan facility and a €100 million senior revolving facility.

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