Broadpoint.Gleacher Serves as Joint Book-Running Manager for $305 Million in Senior Secured Notes for Appleton Papers
09 Febrero 2010 - 6:30AM
Business Wire
Broadpoint Capital, Inc., a broker-dealer subsidiary of
Broadpoint Gleacher Securities Group, Inc. (NASDAQ:BPSG), said
today that it served as joint book-running manager for a $305
million senior secured note offering for Appleton Papers Inc.
Appleton, based in Appleton, Wisconsin, is the world’s largest
producer of carbonless paper and the only producer of the NCR
PAPER* brand carbonless paper and the leading North American
producer of thermal paper. The company has manufacturing operations
in Wisconsin, Ohio, Pennsylvania and Massachusetts, and is entirely
employee-owned.
Appleton used the $305 million offering, together with
borrowings under its new senior secured revolving credit facility,
to repay amounts outstanding under Appleton's existing credit
facilities and to pay related fees and expenses. The offering
closed on February 8, 2010.
“We appreciate the work of the team at Broadpoint.Gleacher to
understand our unique needs and deliver an important and timely
solution to meet our financing requirements,” said Thomas Ferree,
Senior Vice President and Chief Financial Officer of Appleton
Papers Inc.
“We value our ongoing relationship with Appleton and are pleased
to provide access to our broad fixed-income distribution network,
which resulted in stable financing for the company,” said Eric
Gleacher, Chairman of Broadpoint.Gleacher.
The notes were offered in a private placement to "qualified
institutional buyers" pursuant to Rule 144A under the Securities
Act of 1933, as amended (the "Securities Act"), and outside the
United States in reliance on Regulation S under the Securities
Act.
The notes have not been and will not be registered under the
Securities Act or any state securities laws, may not be offered or
sold in the United States absent registration or an applicable
exemption from registration requirements, and will therefore be
subject to substantial restrictions on transfer.
This press release is neither an offer to sell nor the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale of any security in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
*NCR PAPER is a registered trademark licensed to Appleton Papers
Inc.
About Broadpoint.Gleacher
Broadpoint Gleacher Securities Group, Inc. (NASDAQ:BPSG) is an
independent investment bank that provides corporations and
institutional investors with strategic, research-based investment
opportunities, capital raising, and financial advisory services,
including merger and acquisition, restructuring, recapitalization
and strategic alternative analysis services. The Company offers a
diverse range of products through the Debt Capital Markets,
Investment Banking and Broadpoint DESCAP divisions of Broadpoint
Capital, Inc., its Equity Capital Markets subsidiary, Broadpoint
AmTech, and FA Technology Ventures Inc., its venture capital
subsidiary. For more information, please visit www.bpsg.com.
About Appleton
Appleton creates product solutions through its development and
use of coating formulations, coating applications and encapsulation
technology. Appleton produces carbonless, thermal, security and
performance packaging products. Appleton, headquartered in
Appleton, Wisconsin, has manufacturing operations in Wisconsin,
Ohio, Pennsylvania, and Massachusetts, employs approximately 2,200
people and is 100 percent employee-owned. For more information,
visit www.appletonideas.com
Forward Looking Statements
This press release contains "forward-looking statements." These
statements are not historical facts but instead represent the
Company's belief regarding future events, many of which, by their
nature, are inherently uncertain and outside of the Company's
control. The Company's forward-looking statements are subject to
various risks and uncertainties, including the conditions of the
securities markets, generally, and acceptance of the Company's
services within those markets and other risks and factors
identified from time to time in the Company's filings with the
Securities and Exchange Commission. It is possible that the
Company's actual results and financial condition may differ,
possibly materially, from the anticipated results and financial
condition indicated in its forward-looking statements. You are
cautioned not to place undue reliance on these forward-looking
statements. The Company does not undertake to update any of its
forward-looking statements.
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