Finland's Ahlstrom-Munksjo to sell seven-year secured notes in $305 million, €400 million tranches

By Paul A. Harris

Portland, Ore., March 8 – Finland-based Ahlstrom-Munksjö Oyj is in the market with a two-part offering of seven-year senior secured notes, according to market sources.

Tranches are sized at €400 million and approximately $305 million equivalent.

Goldman Sachs is the lead.

The notes come with three years of call protection.

The issuing entity will be special purpose vehicle Spa Holdings 3 Oy.

Proceeds will be used to partially finance the acquisition of an equity stake of more than 90% in the fiber-based products supplier by Bain Capital, Viknum and Belgrano Inversiones.

Ahlstrom-Munksjö is headquartered in Helsinki.

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