Invacare to redeem 9¾% notes not purchased in tender offer in February

By Marisa Wong

Madison, Wis., Oct. 28 - Invacare Corp. said it intends to redeem any or all of the $146 million 9¾% senior notes due 2015 that it does not purchase in the cash tender offer that began on Oct. 1.

The offer is scheduled to expire at 8 a.m. ET on Nov. 1.

The notes would be redeemed in February 2011, subject to the company's discretion and the terms of the notes.

The company plans to finance the repurchase and/or redemption with proceeds from a new $400 million senior secured credit facility maturing in 2015.

Invacare is an Elyria, Ohio-based manufacturer and distributor of home and long-term care medical products that promote recovery and active lifestyles.

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