Stoneridge redeems all $157.5 million 9½% senior secured notes

By Tali Rackner

Norfolk, Va., Oct. 15 – Stoneridge, Inc. redeemed the remaining $157.5 million of its 9½% senior secured notes on Wednesday, according to a press release.

The company used $57.5 million in cash and $100 million in borrowings under its new $300 million senior secured revolving credit facility to fund the redemption.

Warren, Ohio-based Stoneridge is a designer and manufacturer of highly engineered electrical and electronic components, modules and systems primarily for the automotive, commercial vehicle, motorcycle and off-highway vehicle markets.

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