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Article: Radnor Holdings Corporation Announces Proposed Offering of Senior Secured Notes.
- Article from:
- PR Newswire
- Article date:
- March 29, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RADNOR, Pa., March 29 /PRNewswire/ -- Radnor Holdings Corporation announced today that it intends to offer $70.0 million of its senior secured floating rate notes due 2009. The proceeds of the sale of the notes are expected to be used to repay certain secured term and revolving credit borrowings, thereby increasing future availability for borrowings under Radnor's current senior credit agreements.
The notes are expected to bear interest at a floating rate based on LIBOR, with the rate reset quarterly. The notes are expected to be secured by first priority security interests in certain of Radnor's domestic machinery and equipment and certain real property. The ...