Alliance One International, Inc. Prices $735 Million 9.875% Senior Secured Second Lien Notes Due 2021

  Alliance One International, Inc. Prices $735 Million 9.875% Senior Secured
                          Second Lien Notes Due 2021

PR Newswire

MORRISVILLE, N.C., July 26, 2013

MORRISVILLE, N.C., July 26, 2013 /PRNewswire/ --Alliance One International,
Inc. (NYSE:AOI) ("Alliance One" or the "Company") today announced it priced
its previously announced offering of senior secured second lien notes due 2021
(the "Notes"). The face value of the Notes is $735 million with an annual
interest rate of 9.875%. The Notes were priced at 98.000% of the face value.
The offer was made in the United States to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act"), and to persons in offshore transactions in reliance on
RegulationS under the Securities Act. The Notes offering is expected to
close on August 1, 2013.

Alliance One intends to use the net proceeds of the offering, together with
cash on hand, to fund the redemption (the "Redemption") of $635 million in
aggregate principal amount of its 10% senior notes due 2016 (the "2016 Notes")
and the purchase of up to $30 million in aggregate principal amount of its 5½%
convertible senior subordinated notes due 2014 (the "Convertible Notes")
pursuant to its previously announced cash tender offer (the "Tender Offer"),
and to pay fees and expenses related to the offering, the Redemption, the
Tender Offer and the amendment and restatement of its existing senior secured
revolving credit facility. The Company intends to amend the Tender Offer to
provide for a cash tender offer for up to $30 million of the Convertible
Notes. The Redemption and the Tender Offer are conditioned upon, among other
things, the successful completion of the offering. The amount of the offering
exceeds the amount specified as a condition to the effectiveness of the
previously announced amendment and restatement of the Company's existing
senior secured revolving credit facility.

This press release is for informational purposes only and does not constitute
an offer to sell, or the solicitation of an offer to buy, securities or an
offer to purchase, or a solicitation of an offer to purchase, or a call for
redemption of, any securities. Any offer of the Senior Notes will be made
only by means of a private offering memorandum. The Tender Offer is being
made solely pursuant to an offer to purchase and the related letter of
transmittal, which set forth the complete terms of the Tender Offer. The
Senior Notes are not being registered under the Securities Act, or the
securities laws of any other jurisdiction, and may not be offered or sold in
the United States without registration or an applicable exemption from
registration requirements.

Forward-Looking Statements

This press release contains forward-looking statements. Actual results may
differ materially from those reflected in the forward-looking statements.
Additional information concerning factors that could cause actual results to
differ materially from those in the forward-looking statements is contained
under the heading of "Risk Factors" listed from time to time in the Company's
filings with the Securities and Exchange Commission, including its Annual
Report on Form 10-K for the fiscal year ended March 31, 2013, filed on June
17, 2013. In addition, it is not certain whether, and the Company can provide
no assurances that, the offering of the Senior Notes will be completed on the
terms described above or at all. Risks and uncertainties include market
conditions beyond the Company's control, including high-yield debt market
conditions.

SOURCE Alliance One International, Inc.

Website: http://www.aointl.com
Contact: Joel L. Thomas, (919) 379-4300
 
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