NORDENIA to Repay Company's Debt

Published: July 19, 2010

GREVEN, GERMANY | NORDENIA INTL. AG, one of the leading global manufacturers of flexible packaging, has announced that its parent company, NORDENIA HOLDINGS GmbH, had completed an offering of €280 million aggregate principal amount of 9.75% senior second priority notes due 2017. The notes were issued at a price equal to 98.7567% of their face value and will mature on July 15, 2017. The net proceeds from the offering will be used to repay substantially all of the company's outstanding indebtedness, fund an equity distribution to shareholders of the Issuer and the company and pay fees and expenses in connection with the offering.

In connection with the closing of the offering, the company also entered into a new revolving credit facility with WGZ Bank, Duesseldorf/Germany, which provides for borrowings of up to €100 million. Deutsche Bank and Barclays Capital served as joint bookrunners for the offering.