Hanover Compressor to redeem zero-coupon notes due 2007

By Jennifer Chiou

New York, March 24 - Hanover Compressor Co. announced plans to redeem its zero-coupon subordinated notes due March 31, 2007.

The Houston company said it will use proceeds from a $150 million offering of senior notes due 2013 and borrowings under its bank credit facility for the redemption.

Hanover Compressor provides services, fabrication and equipment for oil and natural gas production, processing and transportation applications.

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