Packaging Dynamics is planning to raise a total of about $400 million in a note sale. The senior secured notes to be sold by the flexible packaging and specialty papers manufacturer will mature in 2016.

The company may use the proceeds from the offering to redeem all of its outstanding senior subordinated notes due 2016. It will also repay its senior secured credit facility and cash dividend to the stockholders of its ultimate parent company from the remaining proceeds.

Click here for the release from PR Newswire.