Fushi Copperweld pays $30.76 million for floating-rate notes due 2012

By Lisa Kerner

Charlotte, N.C., March 4 - Fushi Copperweld, Inc. paid $30,765,644 for its guaranteed senior secured floating-rate notes due 2012, according to a form 8-K filed with the Securities and Exchange Commission.

The company entered into a notes purchase agreement on Feb. 26 with the noteholders.

Fushi said it repurchased the notes from each holder for a purchase price in cash equal to 102% of the outstanding principal amount plus accrued interest.

The notes are in the process of being canceled under the provisions of the Jan. 25, 2007 indenture among Fushi and the Bank of New York Mellon, as trustee.

The total original principal amount of the notes was $40 million.

Dalian, China-based Fushi develops, designs, manufactures, markets and distributes bimetallic wire products.

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