International Wire emerges from Chapter 11

By Jeff Pines

Washington, Oct. 20 - International Wire Group Inc. said it emerged from Chapter 11 Wednesday.

The reorganization reduced the St. Louis-based wire manufacturer's long-term debt to about $181 million from $391 million.

Under the company's reorganization plan, it will distribute 9.6 million new common shares and $75 million of new 10% senior subordinated notes to the holders of its 11¾% senior subordinated notes and 14% senior subordinated notes.

International Wire filed for bankruptcy on March 24, 2004. Its Chapter 11 case number is 04-11991.

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