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Anchor Glass Container Corporation: private notes placement

2 April 1998: US-based Anchor Glass Container Corporation announced that it has completed the private placement of US$ 50,000,000 principal amount of its 9.78% interest rate due 2008.
“The proceeds …

2 April 1998: US-based Anchor Glass Container Corporation announced that it has completed the private placement of US$ 50,000,000 principal amount of its 9.78% interest rate due 2008. “The proceeds of the sale of the Senior Notes will be used for expanding Anchor“s capacity to meet growing customer needs and general corporate purposes. Pending such applications, the Company has used the proceeds to repay outstanding indebtedness under its existing revolving credit facility,” said John J. Ghaznavi, Chairman and CEO. Anchor Glass Container Corporation is the third largest manufacturer of glass containers in the United States and is an indirect subsidiary of the Canadian firm Consumers Packaging Inc., a Canadian glass manufacturer.

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