MISSISSAUGA, Ontario, Nov. 26, 2025 (GLOBE NEWSWIRE) -- KP Tissue Inc. (KPT) (TSX:KPT) announced today that Kruger Products Inc. ("KPI") intends, subject to market and other conditions, to offer CDN $165 million principal amount of Senior Unsecured Notes (the "Notes") by way of private placement (the "Offering"). Interest on the Notes will accrue from the issue date and will be payable semi-annually. The Notes will be guaranteed by each of KPI's existing and future restricted subsidiaries, being the same guarantors as under KPI's syndicated credit agreement.
In connection with the Offering, Kruger Products SB Inc. ("KPSB") would become a restricted subsidiary under KPI's senior credit facility, the indenture governing the Notes and the indentures governing KPI's outstanding notes, which KPI believes will immediately improve the credit profile of the restricted group. KPI intends to use the net proceeds of the Offering to fund the repayment in full of the borrowings outstanding under KPSB's senior credit facilities and for general corporate purposes. KPI has obtained all required third party consents for the contemplated Offering.
The offer and sale of the Notes will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the Notes in ...
