Israel’s TowerJazz calls all $45 million of 8% senior notes due 2015

By Tali Rackner

Norfolk, Va., Dec. 8 – TowerJazz plans to redeem all $45 million of its 8% senior notes due June 30, 2015, according to a press release.

The notes will be redeemed at 102 plus accrued interest on Jan. 7.

As a result of the early repayment, the company said it will save about $1.7 million of interest payments that otherwise would accrue and be paid during 2015.

TowerJazz manufactures integrated circuits and is based in Migdal Haemek, Israel.

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