Cenveo (CVO) Unit to Offer $75M of Senior Exchangeable Notes
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Cenveo, Inc. (NYSE: CVO) reports that its wholly-owned subsidiary, Cenveo Corporation, has commenced an offering of $75 million aggregate principal amount of Senior Exchangeable Notes due 2017 (the "Notes").
Cenveo Corporation intends to grant the initial purchasers of the Notes a 30-day over-allotment option to purchase up to an additional $11.25 million aggregate principal amount of the Notes on the same terms and conditions. The Notes will be guaranteed on a senior unsecured basis by Cenveo and substantially all of Cenveo's North American subsidiaries. Net proceeds of the offering, together with the proceeds from its previously announced offering of Senior Notes due 2017 and borrowings under its senior secured credit facility, will be used to fund Cenveo's previously announced tender offer of its 7 7/8% Senior Subordinated Notes due 2013, 8 3/8% Senior Subordinated Notes due 2014 and 10 1/2% Senior Notes due 2016 or to otherwise refinance, repurchase, defease or redeem such indebtedness, and to pay related fees and expenses.
Cenveo Corporation intends to grant the initial purchasers of the Notes a 30-day over-allotment option to purchase up to an additional $11.25 million aggregate principal amount of the Notes on the same terms and conditions. The Notes will be guaranteed on a senior unsecured basis by Cenveo and substantially all of Cenveo's North American subsidiaries. Net proceeds of the offering, together with the proceeds from its previously announced offering of Senior Notes due 2017 and borrowings under its senior secured credit facility, will be used to fund Cenveo's previously announced tender offer of its 7 7/8% Senior Subordinated Notes due 2013, 8 3/8% Senior Subordinated Notes due 2014 and 10 1/2% Senior Notes due 2016 or to otherwise refinance, repurchase, defease or redeem such indebtedness, and to pay related fees and expenses.
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