Consolidated Container to price $25 million tap of its 10 1/8% notes due 2020 on Wednesday

By Paul A. Harris

Portland, Ore., Dec. 4 - Consolidated Container Co. LLC plans to price a $25 million add-on to its 10 1/8% senior notes due July 15, 2020 (expected ratings Caa1/CCC+) on Wednesday, according to an informed source.

Citigroup Global Markets Inc. is the lead manager.

The Rule 144A and Regulation S for life notes become callable after July 15, 2015 at 107.594 and feature a 35% equity clawback at 110.125 until July 15, 2020 and a 101% poison put.

The Atlanta-based plastic packaging company plans to use the proceeds to pay down its revolver, for general corporate purposes and to fund future acquisitions.

The original $250 million issue priced at par in June 2012.

Upon settlement the Rule 144A add-on notes will be fungible with the existing notes. The Regulation S add-on notes will have a temporary Cusip during a distribution compliance period.

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