Hexcel buys back $10 million notes, $1.7 million convertibles

New York, Oct. 20 - Hexcel Corp. said it bought back $10.0 million principal amount of its 9¾% senior subordinated notes due 2009 and 1.7 million principal amount of its 7% convertible subordinated notes due 2011.

The 9¾% notes were bought back in open market transactions. The convertibles were repurchased to meet an annual sinking fund requirement.

The Stamford, Conn. structural materials company funded the buybacks with third quarter cash inflow, made up of $23.0 million from exercising its option to sell the remaining interest in its Japanese electronics joint venture, selling real estate for $2.7 million and delivering $16.8 million from operations.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.