Polypore to launch $200 million eight-year notes next week

By Paul A. Harris and Sara Rosenberg

St. Louis, April 15 - Polypore Inc. is expected to launch an offering of $200 million of eight-year guaranteed subordinated unsecured notes (Caa1) during the week of April 19, according to informed sources.

JP Morgan is the bookrunner for the Rule 144A offering, which will have registration rights. Bear Stearns & Co., Lehman Brothers and UBS Investment Bank are co-managers.

The notes will come with four years of call protection.

The company also plans to obtain a $495 million credit facility.

Proceeds will be used to support Warburg Pincus LLC's acquisition of Polypore from The InterTech Group Inc. and GTCR Golder Rauner LLC, expected to be completed in second quarter 2004.

Polypore is a North Charleston, S.C., developer, manufacturer, and marketer of specialized microporous filtration products.

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