07:40:11 EDT Tue 19 Mar 2024
Enter Symbol
or Name
USA
CA



KP Tissue Inc
Symbol KPT
Shares Issued 9,251,035
Close 2018-04-23 C$ 10.70
Market Cap C$ 98,986,075
Recent Sedar Documents

KP Tissue's Kruger closes $125-million note offering

2018-04-24 14:00 ET - News Release

Mr. Francois Paroyan reports

KP TISSUE ANNOUNCES CLOSING OF SENIOR UNSECURED NOTE FINANCING

KP Tissue Inc.'s Kruger Products LP (KPLP) has closed its previously announced offering of senior unsecured notes.

KPLP issued $125-million principal amount of 6 per cent senior unsecured notes due April 24, 2025, by way of private placement. Interest on the notes is payable semi-annually in arrears on April 24 and Oct. 24 of each year, commencing on Oct. 24, 2018. KPLP intends to use the net proceeds of the financing to reduce the outstanding balance under its syndicated bank credit facility and to pay transaction costs associated with the offering.

Scotia Capital Inc., CIBC World Markets Inc. and Desjardins Securities Inc. acted as joint book-running managers for the offering. In connection with the closing of the offering, KPLP agreed with the lenders under its syndicated credit agreement to certain amendments to that agreement, including the reduction of the amount available from $300-million to $200-million, the maturity date being five years from the closing of the offering, the reduction of the accordion feature from $150-million to $75-million and amendments to certain financial ratio covenants.

About KP Tissue Inc.

KP Tissue was created to acquire, and its business is limited to holding, a limited partnership interest in KPLP. KP Tissue currently holds a 15.9-per-cent interest in KPLP.

About Kruger Products LP

KPLP is Canada's leading manufacturer of quality tissue products for household, industrial and commercial use.

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