Alliance One To Offer $700 Million Of Notes
June 23, 2009 (FinancialWire) — Alliance One International, Inc. (NYSE: AOI) plans to offer $600 million of its senior notes due 2016 and $100 million of its convertible senior subordinated notes due 2014.
The company plans to grant the initial purchasers of its convertible notes a 13-day option to purchase up to $15 million of additional convertible notes.
Alliance One plans to use a portion of the net proceeds of these offerings to fund the purchase price of its 11% senior notes due 2012, 8-1/2% senior notes due 2012, 12-3/4% senior subordinated notes due 2012, 9-5/8% senior notes due 2011, 7-3/4% senior notes due 2013 and 8% senior notes due 2012 that are the subject of a tender offer by the company launched on June 9.
The company plans to apply the remaining net proceeds of these offerings to repay outstanding borrowings under its $305 million senior secured credit facility, as well as for other general corporate purposes, which may include retiring any of the aforementioned notes not purchased in the Offer.
Morrisville, North Carolina-based Alliance One is an independent leaf tobacco merchant serving cigarette manufacturers.
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