J.B. Poindexter to redeem 9% notes on April 17, meets financing terms

By Susanna Moon

Chicago, April 16 – J.B. Poindexter & Co., Inc. said it rescheduled the redemption date for its $175 million of outstanding 9% notes due 2022.

The notes will now be redeemed on April 17 after the company met the financing condition, according to a company notice.

The company had previously planned to redeem the notes at 103 plus accrued interest on April 12 but postponed the call on April 11 because it had not yet met the refinancing conditions.

J.B. Poindexter said on Monday that it had closed its $350 million principal amount of 7 1/8% senior notes due 2026, upsized from $300 million.

The company said it also will use some proceeds to redeem its $175 million of outstanding 9% senior notes due 2022 at a redemption price of 103% plus accrued interest to but excluding the redemption date.

Poindexter is a Houston-based diversified industrial company.

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