AEP Industries to draw on revolver to help fund note repurchase

By Sara Rosenberg

New York, Feb. 28 - AEP Industries Inc. plans to use borrowings under its existing revolving credit facility, along with proceeds from a proposed $175 million senior notes offering, to repurchase all of its $200 million 9 7/8% senior subordinated notes due 2007, according to a company news release.

The company expects to complete the senior notes offering in March.

AEP Industries is a South Hackensack, N.J.-based manufacturer, marketer and distributor of plastic packaging products for the food/beverage, industrial and agricultural markets.

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