Stanadyne to repay all senior notes with proceeds from business sale

By Marisa Wong

Madison, Wis., April 30 - Stanadyne Holdings, Inc. intends to repay all amounts outstanding under its senior subordinated notes and senior discount notes using proceeds from the sale of its fuel filtration business, according to an 8-K filing with the Securities and Exchange Commission.

Clarcor Inc. has agreed to acquire Stanadyne's filtration business for $325 million in cash.

Stanadyne plans to use any remaining proceeds to repay other debt and to cover expenses relating to the sale.

The Windsor, Conn., company designs, manufactures and sells precision manufactured engine components.

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