Ferro draws on term loans to fund accelerated repayment of debentures

By Sara Rosenberg

New York, Aug. 21 - Ferro Corp. drew down borrowings under its term loans to fund the accelerated repayment of $25 million of its 7 5/8% debentures due May 1, 2013, according to an 8-K filed with the Securities and Exchange Commission Monday.

The accelerated payment was required because of the delayed filing of financial statements and an officer's certificate relating to the company's compliance with the terms of the indenture.

Ferro is a Cleveland-based producer of performance materials for industry.

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