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Ontex acquires incontinence products producer Artsana

12 Feb '13

1 min read

Ontex IV S.A. Europe's leading manufacturer of private-label hygienic disposable products, announces the signing of the acquisition of Artsana Sud S.p.A. a leading manufacturer and distributor of incontinence products in Italy, from Artsana Group and the offering of €75 million 7.5% Senior Secured Notes due 2018 by Senior 1 S.A., a société anonyme incorporated under the laws of Luxembourg to finance, in part, the acquisition. The consummation of the acquisition is subject to certain conditions.

Pending closing of the acquisition of Serenity, the proceeds of the Temporary Notes offering will be deposited into an escrow account. Upon completion of the acquisition, the Temporary Notes will be automatically exchanged for additional notes (the “Additional Notes”) to be issued by Ontex under the indenture dated March 31, 2011, pursuant to which Ontex issued its existing €320 million 7.5% Senior Secured Notes due 2018 and €280 million Senior Secured Floating Rate Notes due 2018.

Ontex will use the gross proceeds of this offering, together with cash on hand, to (i) purchase the issued and outstanding capital stock of Serenity and (ii) pay certain fees and expenses associated with the acquisition of Serenity and the offering of Temporary Notes.

Ontex IV S.A