July 25, 2016 12:17 PM ET

Textiles, Apparel and Luxury Goods

Company Overview of AVINTIV Specialty Materials Inc.

Company Overview

AVINTIV Specialty Materials Inc. develops, produces, and markets nonwovens to consumer and industrial markets. It operates through four segments: North America, South America, Europe, and Asia. The company’s products are used for personal care comprising baby diapers and feminine hygiene products, and substrates for fabric-softening dryer sheets; infection prevention, including specialty materials for use in various medical garments, such as surgical gowns and drapes, and household cleaning wipes; and high performance solutions consisting of filtration media for pool and spa filters, and protective house wraps, as well as specialty agriculture and industrial customers. It also provides nonwo...

9335 Harris Corners Parkway

Suite 300

Charlotte, NC 28269

United States

Founded in 1994

4,400 Employees

Phone:

704-697-5100

Fax:

704-697-5116

Key Executives for AVINTIV Specialty Materials Inc.

Chief Financial Officer, Executive Vice President and Treasurer
Age: 42
President of Global Operations & Business Excellence
Age: 52
President of Americas & Global Wipes & Technical Specialties
Age: 48
President of APAC & Global Hygiene
Age: 59
President of EMEA & Global Building & Geosynthetics
Age: 49
Compensation as of Fiscal Year 2016.

AVINTIV Specialty Materials Inc. Key Developments

AVINTIV Specialty Materials Inc. Announces Completion of Exchange Offer for its 6.875% Senior Notes Due 2019

AVINTIV Specialty Materials Inc. announced the completion of its offer to exchange its outstanding 6.875% Senior Notes due 2019 that were issued on July 1, 2014 for an equal principal amount of 6.875% Senior Notes due 2019 which have been registered under the Securities Act. The exchange offer expired at 5:00 p.m., New York City time, on September 8, 2015. At the time of the expiration, subject to confirmation of tenders sent via the guaranteed delivery procedures set forth in the prospectus, tenders of approximately $207 million aggregate principal amount, or 99%, of the Outstanding Notes, have been received pursuant to the exchange offer.

AVINTIV Specialty Materials Inc. Issues Conditional Notice of its Election to Redeem all of its Outstanding Notes

On September 4, 2015, AVINTIV Specialty Materials Inc. issued a conditional notice of its election to redeem all of its outstanding Notes, consisting of $304.0 million aggregate principal amount of its 7.75% Senior Secured Notes due 2019 and $210.0 million aggregate principal amount of its 6.875% Senior Unsecured Notes due 2019, in each case, subject to the Condition. The company's obligation to effect the redemption and to pay the redemption price on the redemption date is conditioned upon the closing of the transactions contemplated by that certain Agreement and Plan of Merger, dated as of July 30, 2015, by and among AVINTIV Inc., Berry Plastics Group Inc., Berry Plastics Acquisition Corporation IX and Blackstone Capital Partners (Cayman) V L.P., as the security holder representative and the receipt by the company of a portion of the proceeds from the merger in an amount sufficient to pay the redemption price. The closing of the merger is subject to customary conditions, including, among others, the expiration or termination of the waiting period under certain foreign competition laws, which have not yet been satisfied. There is no assurance that the merger will be consummated within any particular time period or at all. The notes will be redeemed on October 5, 2015 or such later date as the condition shall have been satisfied or waived. The senior secured notes will be redeemed by the company at a redemption price of 103.875% of the principal amount thereof, plus accrued and unpaid interest thereon, to, but excluding, the redemption date. The senior unsecured notes will be redeemed by the company at a redemption price of 100% of the principal amount thereof plus the applicable premium, plus accrued and unpaid interest thereon plus additional interest, if any, to, but excluding, the redemption date.

AVINTIV Specialty Materials Inc. Announces Exchange Offer for its 6.875% Senior Notes Due 2019

AVINTIV Specialty Materials Inc. announced that it is commencing an exchange offer for its outstanding $210,000,000 aggregate principal amount of 6.875% Senior Notes due 2019 that were issued on June 11, 2014 (the "Outstanding Notes"), upon the terms and conditions set in a prospectus, dated August 10, 2015, and in the accompanying letter of transmittal relating to the exchange offer. Pursuant to the exchange offer, the Issuer is offering to exchange all of the Outstanding Notes for a like principal amount of its 6.875% Senior Notes due 2019, which have been registered under the Securities Act of 1933, as amended (the "Exchange Notes"). The exchange offer will expire at 5:00 p.m., New York City time, on September 8, 2015 unless extended.

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