latest news releases from the newsroom
International Food Products Group, Inc
International Food Products Group Announces New Brand Portfolio
NEWPORT BEACH, Calif., Jan. 9, 2008 (PRIME NEWSWIRE) -- International Food Products Group (OTCBB:IFDG) Chairman/CEO Mr. Richard Damion today announced that IFPG is in the final stages of development for a new line of Inka Grill(tm)/Golden Choice Foods(r) fresh gourmet Peruvian meals which are to be sold through major retail, specialty and club stores nationwide. Mr. Damion also confirmed that the company has completed the development of a unique Peruvian beverage; also to be sold under the Inka Grill/Golden Choice Food(r) brand. Mr. Damion said, "I'm particularly energized by this lines unique flavor and significant health benefits. I would expect this beverage to be a refreshing addition to the many products currently in the market; quickly becoming a brand leader in this new category."
Solutia Announces Proposed Senior Notes Offering
ST. LOUIS, Jan. 9, 2008 (PRIME NEWSWIRE) -- Solutia Inc. (NYSE:SOA) announced today that it is planning to offer $400 million aggregate principal amount of senior unsecured notes, which are expected to mature in 2016. As previously announced by Solutia on October 31, 2007, the notes offering is part of a $2.0 billion exit financing package that would be used to pay certain creditors upon Solutia's emergence from Chapter 11 pursuant to its confirmed plan of reorganization, and for the ongoing operations of the company after emergence. As part of this exit financing package, Solutia also intends to enter into a senior secured asset-based revolving credit facility in the aggregate principal amount of $400 million and a senior secured term loan facility in an aggregate principal amount of $1.2 billion.