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Prospect News home > News index > List of issuers A > Headlines for Aleris International Inc. > News item |
Aleris to buy $65.07 million 7 5/8%, $59.93 million 7 7/8% notes
New York, Sept. 8 – Aleris International, Inc. said it will purchase $65,067,000 of its 7 5/8% senior notes due 2018 and $59,933,000 of its 7 7/8% senior notes due 2018 in its asset sale offer to buy back up to $125 million of the notes.
Because the offer was oversubscribed, tenders will be accepted on a pro rata basis.
In total, holders submitted $395,064,000 of the $500 million of outstanding 7 5/8% notes and $363,718,000 of the $500 million of outstanding 7 7/8% notes.
The offer ended at 5 p.m. ET on Sept. 2.
Aleris will pay par plus accrued interest up to but excluding the settlement date for accepted notes. Settlement was scheduled for Sept. 8.
The offer began on Aug. 5.
Global Bondholder Services Corp. was depositary (banks and brokers call 212 430-3774, others 866 807-2200).
Aleris is a Cleveland-based maker of aluminum rolled products.
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