Cleaver-Brooks calls outstanding $1.75 million senior secured notes

By Ashley Montgomery

Kansas City, Kan., Dec. 19 - Cleaver-Brooks, Inc. plans to redeem all $1,745,000 of its 12¼% senior secured notes due 2016, according to a notice.

The notes will be redeemed on Dec. 24 at par plus the greater of 1% of the principal amount and the excess, if any, of the present value at the redemption date of the redemption price of such notes on May 1, 2013, which is 106.125% of the principal amount of the notes to be redeemed, plus all required interest payments due on such notes through May 1, 2013, computed using a discount rate equal to the Treasury Rate plus 50 basis points, over the principal amount of such notes.

The price will also include accrued interest to the redemption date.

U.S. Bank, NA is the trustee.

Cleaver-Brooks is a Milwaukee-based provider of complete boiler room systems.

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