Neenah Paper (NP) prices its $175M private offering of senior unsecured notes maturing in 2021....

|About: Neenah Paper, Inc. (NP)|By:, SA News Editor

Neenah Paper (NP) prices its $175M private offering of senior unsecured notes maturing in 2021. The notes will bear an annual interest rate of 5.25%. Net proceeds will be used to redeem the outstanding balance of its existing 7.375% senior unsecured notes due 2014, and to repay all borrowings under its secured revolving credit facility. Any remaining funds will be used for general corporate purposes.