Glatfelter Prices Senior Note Offering
P. H. Glatfelter (NYSE: GLT) announced today that it has priced its offering of $250 million in aggregate principal amount of 5.375% senior notes due 2020 (the “Notes”), which represents an increase of $50 million of its previously announced offering. The offering of the Notes is expected to close on October 3, 2012, subject to certain closing conditions. The net proceeds from the offering of the Notes are expected to be used to fund the previously announced cash tender offer by Glatfelter for any and all of its outstanding 7⅛% senior notes due 2016 (“2016 Notes”), to retire any 2016 Notes not purchased in such tender offer through one or more redemptions, subsequent tender offers or open market purchases (although Glatfelter is under no obligation to take any such actions), to repay amounts outstanding under its credit facility and for general corporate purposes.
The Notes have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws and may not be offered or sold in the United States absent registration under such laws or applicable exemptions from such registration requirements.
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