Xerium to Offer $240M of Notes

Xerium Technologies, Inc. XRM today announced that it intends to offer $240 million aggregate principal amount of senior unsecured notes due 2018. As previously announced, the net proceeds of this offering, along with the borrowings under a new senior secured credit facility, will be used to refinance all of Xerium's outstanding indebtedness under its existing credit facilities. The Notes will be guaranteed on a senior unsecured basis by all of Xerium's direct and indirect wholly-owned domestic subsidiaries. While expected to close later this month, there can be no assurance that the refinancing transaction will be consummated as described above, or at all. Completion of the refinancing transaction is subject to market, documentation and customary closing conditions.