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Noranda Aluminum chooses PIK option for May 15 interest payment on floaters
By Angela McDaniels
Tacoma, Wash., Feb. 19 - Noranda Aluminum Holding Corp. said it will pay the interest due May 15 on its $220 million senior floating-rate notes due 2014 and $510 million senior floating-rate notes due 2015 entirely in kind.
The company made the PIK election in November, according to its earnings release for the fourth quarter.
Noranda Aluminum is a Franklin, Tenn.-based producer of value-added primary aluminum products and rolled aluminum coils.
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