Pioneer Announces the Prepayment and Redemption of Certain Debt
11 Julho 2005 - 3:12PM
PR Newswire (US)
Pioneer Announces the Prepayment and Redemption of Certain Debt
HOUSTON, July 11 /PRNewswire-FirstCall/ -- Pioneer Companies, Inc.
(NASDAQ:PONR) announced today that its subsidiary, Pioneer Americas
LLC, will be prepaying and redeeming all of the Senior Secured
Floating Rate Guaranteed Notes due 2006 and Senior Floating Rate
Term Notes due 2006 that remain outstanding. The notes, which had
an original aggregate principal amount of $50 million, were issued
on December 31, 2001. Pioneer's voluntary redemption of the $6.1
million in Senior Secured Floating Rate Guaranteed Notes due 2006
that is now outstanding will occur on the redemption date of August
22, 2005, while the voluntary prepayment of the $0.8 million in
Senior Floating Rate Term Notes due 2006 that is now outstanding
will occur on July 13, 2005. The payments, which will also include
interest accrued to the indicated dates, will be made out of
Pioneer's existing cash reserves. Pioneer, based in Houston,
manufactures chlorine, caustic soda, bleach, hydrochloric acid and
related products used in a variety of applications, including water
treatment, plastics, pulp and paper, detergents, agricultural
chemicals, pharmaceuticals and medical disinfectants. Pioneer owns
and operates four chlor-alkali plants and other downstream
manufacturing facilities in North America. Certain statements in
this news release are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act. Forward-
looking statements relate to matters that are not historical facts.
Such statements involve risks and uncertainties, including, but not
limited to, the risks and uncertainties described in Pioneer's
filings with the Securities and Exchange Commission. Actual
outcomes may vary materially from those indicated by the
forward-looking statements. DATASOURCE: Pioneer Companies, Inc.
CONTACT: Gary Pittman of Pioneer Companies, Inc., +1-713-570-3200
Web site: http://www.piona.com/
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