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Business Editors
WESTPORT, Conn.--(BUSINESS WIRE)--Jan. 30, 2004
Playtex Products, Inc. (NYSE: PYX) announced today plans to offer its senior secured notes in a Rule 144A offering. The gross proceeds from the offering are expected to be approximately $450 million. In connection with the offering of senior secured notes, Playtex also intends to enter into a new senior secured credit facility in an aggregate amount of approximately $150 million.
Playtex intends to use the proceeds from the offering of the senior secured notes and the borrowings under its new credit facility to repay and/or terminate commitments under its existing credit facility, to terminate its existing accounts receivables facility and to pay transaction fees and expenses. The proposed offering of senior secured notes and the other refinancing transactions are expected to close during February 2004.
The securities to be offered will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful.
Playtex ...
Source: HighBeam Research, Playtex Products, Inc. Announces Proposed Offering of Senior Secured...