MORRISVILLE, N.C., Oct. 6, 2016 /PRNewswire/ -- Alliance One
International, Inc. (NYSE: AOI) ("Alliance One" or the "Company")
today announced that it has priced its previously announced
offering of senior secured first lien notes due 2021 (the "Notes")
in the aggregate principal amount of $275
million. Interest will accrue at a rate of 8.500% per
annum and the issue price for the Notes will be 99.085% of their
face value. The offer was made in the United States to qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as
amended (the "Securities Act"), and to persons in offshore
transactions in reliance on Regulation S under the Securities
Act. The Notes offering is expected to close on October 14, 2016.
Alliance One intends to use a portion of the net proceeds of the
offering to repay in full all outstanding indebtedness and accrued
and unpaid interest owed under its existing senior secured
revolving credit facility. The Company intends to apply the
remaining net proceeds of the offering for general corporate
purposes, which is anticipated to result in a reduction in the
amount of borrowings under its foreign seasonal lines of credit as
those lines are renewed or replaced.
This press release is for informational purposes only and does
not constitute an offer to sell, or the solicitation of an offer to
buy, any securities. Any offer of the Notes will be made only
by means of a private offering memorandum. The Notes are not
being registered under the Securities Act, or the securities laws
of any other jurisdiction, and may not be offered or sold in
the United States without
registration or an applicable exemption from registration
requirements.
Forward-Looking Statements
This press release contains forward-looking statements.
Actual results may differ materially from those reflected in the
forward-looking statements. Additional information concerning
factors that could cause actual results to differ materially from
those in the forward-looking statements is contained under the
heading of "Risk Factors" listed from time to time in the Company's
filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K for the fiscal year ended March 31, 2016, filed on July 12, 2016. Completion of the offering
of the Notes is conditioned upon, among other things, the
substantially concurrent establishment of the Company's anticipated
senior secured asset-based lending facility. It is not
certain whether, and the Company can provide no assurances that,
the offering of the Notes will be completed on the terms described
above or at all. Risks and uncertainties include market
conditions beyond the Company's control, including market
conditions affecting senior secured asset-based lending facilities
and high-yield debt market conditions.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/alliance-one-international-inc-announces-pricing-of-275-million-8500-senior-secured-first-lien-notes-due-2021-300341030.html
SOURCE Alliance One International, Inc.