Meritor plans to redeem all $250 million of its 10 5/8% notes due 2018

By Tali Rackner

Norfolk, Va., Feb. 13 - Meritor Inc. called all $250 million of its 10 5/8% notes due 2018, according to a press release.

The notes will be redeemed at 105.313 plus accrued interest to the redemption date of March 17.

The company plans to use the proceeds from its $225 million offering of notes completed on Thursday and cash on hand to fund the redemption.

The Bank of New York Mellon Trust Co., NA is the trustee.

Meritor is a Troy, Mich.-based auto components maker.

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