Nordenia Plans 7-Year EUR280M High Yield Bond

29th Jun 2010 10:21

LONDON (Dow Jones)--German packaging company Nordenia Holdings GmbH is planning a EUR280 million, seven-year high yield bond, to pay-down existing debt and fund a dividend for its owner, U.S. private equity firm, Oaktree Capital Management, a bank working on the deal said Tuesday. Nordenia's planned issue is the second bond announced Tuesday that will be used to pay a dividend to shareholders--German chemical manufacturer Oxea is planning a EUR500 million equivalent bond, which will be used to pay down debt and pay a dividend to its owner Advent International. Deutsche Bank AG and Barclays Capital are joint-lead bookrunners on the Nordenia deal. The issue is expected to be rated B2 by Moody's Investors Service and B by Standard & Poor's Corp. By Ainsley Thomson, Dow Jones Newswires; 44 20 7842 9318; [email protected] (END) Dow Jones Newswires June 29, 2010 05:21 ET (09:21 GMT)