Interface plans to redeem $247.5 million of 7 5/8% notes by year’s end

By Susanna Moon

Chicago, Oct. 7 – Interface, Inc. plans to redeem or repurchase its outstanding $247.5 million principal amount of 7 5/8% senior notes due 2018 by year’s end, according to an 8-K filing with the Securities and Exchange Commission.

Funding for the redemption will come from term loan A draws, revolving loan draws and possibly cash on hand.

The company expects to spend $266 million to $268 million to fund the redemption, depending on the redemption date.

The company said it obtained a $200 million term loan A that may be used to repurchase or redeem the notes by Dec. 31.

Interface is an Atlanta-based modular carpet company.

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