Interface to redeem remaining $220 million 7 5/8% notes on Dec. 1

By Tali Rackner

Norfolk, Va., Oct. 17 – Interface, Inc. elected to redeem the remaining $220 million of its 7 5/8% senior notes due 2018, according to a press release.

The notes will be redeemed at 103.813 plus accrued interest up to the redemption date of Dec. 1. The total redemption price will be roughly $236.8 million.

U.S. Bank NA is the trustee.

Interface previously announced the redemption of $27.5 million of the notes. That transaction is expected to be completed on Nov. 26.

A combination of term loan and revolving borrowings under the company's credit facility and cash on hand will be used to fund the redemptions.

Interface is an Atlanta-based modular carpet company. It announced plans to redeem all $247.5 million of the notes earlier this month.

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