Xerium Technologies Announces Pricing of $240 Million Offering of Senior Notes

Xerium Technologies, Inc. XRM today announced that it has priced its private offering of $240 million aggregate principal amount of senior unsecured notes due 2018. The Notes will be sold to investors at a price of 100% of the principal amount thereof and will bear interest at a rate equal to 8.875% per annum. The offering is expected to close on May 26, 2011, subject to customary closing conditions. The Notes will be the senior unsecured obligations of Xerium and will be guaranteed on a senior unsecured basis by all of Xerium's direct and indirect wholly-owned domestic subsidiaries. The net proceeds of this offering, along with the borrowings under a new senior secured credit facility and cash on hand, will be used to refinance all of Xerium's outstanding indebtedness under its existing credit facilities.