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Reunion Industries tenders for all 13% senior notes
By Jennifer Chiou
New York, Oct. 31 - Reunion Industries, Inc. announced the start of a cash tender offer for all of its 13% senior notes.
On Aug. 3, the company announced it was in default on its $22.01 million of the 13% notes after failing to make its $715,423 July 1 interest payment by Aug. 1.
The Pittsburgh manufacturer of metal and plastic products said the 2003 notes have been in default since 2003 and the 2006 notes have been in default since 2004.
For each $1,000 principal amount of the 2003 notes, the company said it will pay $528.00.
For each $880 principal amount of its 2006 notes, the company said it will pay $528.00.
The offer in conditioned upon sufficient financing.
Complete terms of the tender are available from John M. Froehlich at (412 281-2111).
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