Stanadyne to redeem all outstanding 10% notes, 12% notes on June 2

By Marisa Wong

Madison, Wis., May 9 - Stanadyne Corp. gave notice that it will redeem on June 2 all of its outstanding $160 million 10% senior subordinated notes due Aug. 15, 2014 and $100 million 12% senior discount notes due Feb. 15, 2015.

The notes will be redeemed at par.

Stanadyne 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 a previous 8-K filing with the Securities and Exchange Commission.

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

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

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