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Refco to redeem $210 million of 9% notes with IPO proceeds
By Ted A. Knutson
Washington, April 8 - Refco Inc. said it will redeem $210 million of $600 million in principal amount outstanding of its 9% senior subordinated notes due Aug. 1, 2012 with proceeds from an estimated $575 million gross initial public offering of common stock.
The New York-based financial services company also plans to use IPO funds to pay a related premium of $18.9 million and accrued and unpaid interest.
The company made the announcement in an S-1 prospectus filing with the Securities and Exchange Commission.
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