Koppers to refinance $300 million 7 7/8% bonds, cut rate by 175-225 bps

By Susanna Moon

Chicago, Sept. 8 – Koppers Holdings Inc. plans to refinance its $300 million 7 7/8% bonds, cutting pricing by 175 basis points to 225 bps, according to an 8-K filing with the Securities and Exchange Commission.

The bonds have a first call date at Dec. 1 with a call premium of about $12 million at call date; an earlier call would cost an additional $3 million to $4 million, the company noted.

The company plans to refinance the bonds in 2014 and upsize the issue and to reduce the its term loan.

Koppers is a Pittsburgh-based producer of carbon compounds and treated wood products.

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