NORDENIA
EUR 280m corporate bond issued to finance dividends and debts
German film and packaging manufacturer Nordenia (Greven; www.nordenia.com) on 9 July announced that its parent company, Nordenia Holdings, had completed an offering of EUR 280m aggregate principal amount of 9.75% senior second priority notes due in 2017. The bond was issues at a price equal to 98.7567% of the notes’ actual value and will mature on 15 July 2017. Both Deutsche Bank and Barclays Capital served as joint bookrunners for the offering.
 Nordenia’s executive board (from left): Andreas Busacker (CFO), Ralph Landwehr (executive board chairman) and Andreas Picolin (vice chairman) (Photo: Nordenia). |
Nordenia said the net proceeds will be used to repay its outstanding debt, to fund an equity distribution to shareholders – see also Plasteurope.com of 14.04.2010 – and to pay fees and expenses related to the offering. Upon closing of the offering, Nordenia entered into a new revolving credit facility with WGZ Bank (Düsseldorf / Germany), which provides for borrowings of up to EUR 100m.
14.07.2010 Plasteurope.com [216766]
Published on 14.07.2010
German version of this article...