CPI International calls $6 million more of its floaters

By Devika Patel

Knoxville, Tenn., Feb. 14 - CPI International Inc. announced it will redeem $6 million more of its floating-rate senior notes due 2015.

The notes will be redeemed at $1,020 per $1,000 principal amount, plus accrued interest up to but excluding the March 17 redemption date.

CPI bought back $38.18 million of the floaters in August. The company said it will have $16 million of the notes outstanding after March's redemption.

CPI, based in Palo Alto, Calif., is the parent company of Communications & Power Industries, a provider of microwave, radio frequency, power and control solutions for defense, communications, medical and scientific industries.

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