http://www.appvion.com/en-us/investors/Pages/investor_inform... Ooops, forgot, company name is changed to Appvion. The link above takes you to announcement that the proceeds from recent bond placement will be used to buy back the existing bonds due 2014 and 2015. I didn't read any further than that, just wanted to post this info in case anyone was interested. Maybe there is a chance to make a few dollars, but most likey not.
Last post...here is a cut and paste from their 11/12 anouncement:Appvion intends to use the net proceeds from the proposed offering of the Notes to redeem all of its outstanding 9¾% Senior Subordinated Notes due 2014 (the “9¾% Notes”) and 11.25% Second Lien Notes due 2015 (“11.25% Notes,” and together with the 9¾% Notes, the “Existing Notes”), and to pay the redemption premium with respect to the 11.25% Notes, to pay accrued and unpaid interest on the Existing Notes, if any, on the redemption date and to pay fees and expenses related to the redemption of the Existing Notes and the proposed offering of the Notes. Any remaining net proceeds will be used to repay amounts outstanding under Appvion’s revolving credit facility. Contemporaneously with the closing of the offering of the Notes, Appvion will deposit the redemption price for the Existing Notes with the Trustees under the respective indentures for the 9¾% Notes and 11.25% Notes, in order to satisfy and discharge those indentures and release the collateral securing the 11.25% Notes.
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