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Article: Pioneer Prices $100 Million 2.75% Convertible Senior Subordinated Notes Due 2027.
- Article from:
- PR Newswire
- Article date:
- March 21, 2007
CopyrightCOPYRIGHT 2007 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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HOUSTON, March 20 /PRNewswire-FirstCall/ -- Pioneer Companies, Inc. today announced the pricing of $100,000,000 aggregate principal amount of 2.75% Convertible Senior Subordinated Notes due 2027. The notes are being sold in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Pioneer has also granted the initial purchasers a 13-day option to purchase up to an additional $20,000,000 aggregate principal amount of the notes.
The notes will pay interest semiannually at a rate of 2.75% per annum. Prior to January 1, 2014, the notes will be convertible, only upon specified ...