Applied Extrusion Technologies, Inc. Completes Sale of $275 Million of Senior Notes.Business Editors BOSTON--(BUSINESS WIRE)--June 19, 2001 Applied Extrusion Technologies, Inc. (Nasdaq: AETC AETC Air Education & Training Command (US Air Force) AETC Air Education and Training Command AETC AIDS Education and Training Centers AETC Alabama Educational Technology Conference AETC Advanced Engineering Technology Conference ) today announced that it has completed its previously-announced offering of $275 million of 10-3/4% Senior Notes due 2011. The Notes will be unsecured senior obligations of AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. . The issue price of each Senior Note was $984.94 per $1,000 principal amount at maturity, and carries a yield to maturity of 11%. As previously announced, the Company closed the offering on June 19, 2001 and plans to use the proceeds as follows: -- $150 million to redeem AET's 11-1/2% Senior Notes due 2002, -- $9 million to fund a portion of the purchase price of the acquisition of the assets of QPF, L.L.C., -- Repay all amounts outstanding under AET's Bank Credit Facility, and -- The remainder for general corporate purposes. Applied Extrusion Technologies, Inc. is a leading developer and manufacturer of highly specialized plastic films used primarily in consumer product labeling and flexible packaging applications. Through its technological innovations, AET is a leader in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. polypropylene polypropylene (pŏl'ēprō`pəlēn), plastic noted for its light weight, being less dense than water; it is a polymer of propylene. It resists moisture, oils, and solvents. and apertured films markets. Except for the historical information contained herein, the matters discussed in this report are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including those risks related to the timely development and acceptance of new products, fluctuations in raw materials and other production costs, the ability to satisfy our debt service requirements, the loss of one or more significant customers, the impact of competitive products and pricing, the timely completion of capital projects, the success of the Company's efforts to access capital markets on satisfactory terms, and to acquire, integrate, and operate new businesses and expand into new markets, as well as other risks detailed in Exhibit 99 of the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended September 30, 2000 and from time to time in the Company's other reports filed with the Securities and Exchange Commission. |
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