Compression Polymers issues talk on $215 million bond offering

By Paul A. Harris

St. Louis, June 27 - Compression Polymers Holdings LLC issued priced talk on its $215 million two-part high-yield bond offering, according to an informed source.

Talk on $150 million of eight-year fixed-rate notes (B2/B-) is 10½% to 10¾%.

Talk on $65 million of seven-year floating-rate notes is in the area of six-month Libor plus 650 basis points.

Pricing is expected Wednesday.

Wachovia Securities is the bookrunner.

Proceeds will be used to fund the leveraged buyout of Compression Polymers Corp. by AEA Investors.

The prospective issuer, a manufacturer of engineered extruded plastic sheet products used primarily as replacements for wood and metal, is based in Moosic, Pa.

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