Alliance One Pockets $543M in Debt Sale

Source from:  Triangle Business Journal 06/29/2009

Morrisville-based cigarette tobacco distributor Alliance One International sold $570 million in seven-year senior notes on Friday in a private placement. The size of sale was scaled down from the company's initial plan to offer $600 million. Alliance, with a total employee roster of 4,700 in the United States and overseas, says it will use the $542.5 million in proceeds from the sale to repay other corporate borrowings and for general operating purposes, including the retirement of previous note sales. Credit Suisse, Deutsche Bank, Goldman Sachs,and ING managed the note sale. Alliance One (NYSE: AOI) buys, processes, stores and sells flue-cured and burley tobacco. Its customers are cigarette manufacturers in the United States, South America, Europe, and Asia. Enditem