SPX fully redeems 7 5/8% senior notes due 2014 at 105.898

By Toni Weeks

San Luis Obispo, Calif., Feb. 11 - SPX Corp. said it completed the redemption of its remaining 7 5/8% senior notes due 2014 following a tender offer, according to an 8-K filing with the Securities and Exchange Commission.

The company redeemed the notes on Feb. 11 at 105.898. U.S. Bank NA was the paying agent.

The tender offer for the notes expired at 11:59 p.m. ET on Feb. 5, and the remaining roughly $159.73 million of notes were called for redemption on Feb. 6.

In the tender offer, the company took in overall tenders for $340.27 million by the expiration date. Of that amount, $340.26 million were tendered by the consent deadline, 5 p.m. ET on Jan. 22, enough to amend the indenture to eliminate substantially all of the restrictive covenants.

SPX is a Charlotte, N.C.-based provider of flow technology, test and measurement, thermal equipment and services and industrial products and services. It launched the offer on Jan. 8.

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