Spirit AeroSystems calls remaining 7½% notes for May 1 redemption

By Angela McDaniels

Tacoma, Wash., April 7 - Spirit AeroSystems Holdings, Inc. subsidiary Spirit AeroSystems, Inc. will redeem its $72,835,000 of outstanding 7½% senior notes due 2017 in full on May 1, according to an 8-K filing with the Securities and Exchange Commisison.

The redemption price will be 103.75% of par plus accrued interest up to but excluding the redemption date.

As previously reported, a tender offer for the notes began March 4 and ended at 11:59 p.m. ET on March 31.

As of the consent deadline, 5 p.m. ET on March 17, holders had tendered $227.16 million of the notes. These notes were settled on March 18.

The total purchase price was $1,041.25 for each $1,000 principal amount of the notes tendered by the consent date. This amount included a consent payment of $30.00 per note.

The company also paid accrued interest up to but excluding the settlement date.

Spirit also solicited consents to amend the notes to eliminate most of the covenants and default provisions, which required consents from holders of at least a majority of the outstanding notes.

BofA Merrill Lynch (888 292-0070 or 980 387-3907 collect) was the dealer manager and solicitation agent. The depositary and information agent was Global Bondholder Services Corp. (866 470-4200 and 212 430-3774 for banks and brokers).

Spirit AeroSystems is a Wichita, Kan.-based maker of commercial and military airplane components, including fuselages, propulsion systems and wings.

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