Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Libbey Prices $450 Mln Of Senior Notes

RELATED NEWS
Trade LBY now with 

Libbey Inc. (LBY: Quote) said Friday that its wholly owned subsidiary Libbey Glass Inc. has priced $450 million aggregate principal amount of 6.875% senior secured notes due 2020 in a private placement at par.

The sale of the notes is expected to close on May 18.

The company said it and Libbey Glass plan to use the net proceeds from the sale of the notes, together with cash on hand and borrowings under the amended and restated senior secured credit agreement, to repurchase up to $320 million of the existing Libbey Glass 10% Senior Secured Notes due 2015 in a previously announced tender offer, redeem $40 million in aggregate principal amount of the existing notes that remain outstanding after consummation of the tender offer, pay related fees and expenses and contribute $79.7 million to the company's U.S. pension plans to fully fund its target obligations under ERISA.

Click here to receive FREE breaking news email alerts for Libbey Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.