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Avgol Reveals Fiberweb Findings

April 7, 2008

Israeli company would have to borrow $400M for purchase.

Israeli nonwovens producer Avgol has estimated that it would need to borrow about $400 million as well as an additional $200 million in mezzanine financing to purchase Fiberweb. Avgol announced it was conducting due diligence concerning the possible purchase of Fiberweb’s sizable nonwovens business in January.
According to a report issued by Fiberweb, Avgol would borrow the $400 million from non-Israeli banks and Israeli institutional investors. The debt would be used to refinance Fiberweb’s existing debt.

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