Innophos to redeem all remaining $190 million of 8 7/8% notes due 2014

By Susanna Moon

Chicago, Aug. 27 - Innophos Holdings, Inc. said its subsidiary, Innophos, Inc., plans to redeem for cash on Sept. 27 all of its remaining $190 million of 8 7/8% senior subordinated notes due 2014.

The company said it also entered into a $225 million five-year senior secured credit facility with a group of bank lenders.

The redemption will be funded with borrowings under the facility and cash on hand.

Innophos is a Cranbury, N.J., producer of specialty phosphates.

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