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RockTenn Announces Closing of Senior Notes Offering
Posted February 22, 2012
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NORCROSS, Ga.--(BUSINESS WIRE)--RockTenn (NYSE: RKT) announced today the closing of its previously announced offering of senior notes. RockTenn completed the issuance of $350 million aggregate principal amount of 4.450% senior notes due 2019 and $400 million aggregate principal amount of 4.900% senior notes due 2022. The notes were offered only to persons in the United States and to, or for the account or benefit of, U.S. Persons, in each case that are qualified institutional buyers in accordance with the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act. The notes are guaranteed on an unsecured, unsubordinated basis by certain of RockTenn's existing and future domestic subsidiaries.
RockTenn will use the net proceeds from the offering, together with additional available liquidity, to prepay all of the $746 million in aggregate principal amount of loans outstanding under its existing term loan B facility and to pay costs and expenses relating to such prepayment, including accrued and unpaid interest.
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