American Tire Distributors redeems all $250 million of 9¾% notes

By Angela McDaniels

Tacoma, Wash., June 16 – American Tire Distributors Holdings, Inc. subsidiary American Tire Distributors, Inc. redeemed its 9¾% senior secured notes in full on June 16, according to an 8-K filing with the Securities and Exchange Commission.

The redemption price was 104.875% of par plus accrued interest up to but excluding the redemption date.

The total redemption price was $263.2 million.

The company used proceeds from a $340 million incremental senior secured term loan to redeem the notes. The remaining proceeds will be used for working capital requirements and other general corporate purposes, including the financing of potential future acquisitions.

American Tire Distributors is a Huntersville, N.C.-based supplier of tires to the replacement tire market.

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