K&F Industries announces IPO to buy back 11½% notes due 2015

By Ted A. Knutson

Washington, May 20 - K&F Industries Holdings, Inc. said it will buy back $55 million in principal of 11½% senior PIK notes due 2015 issued Feb. 11 with money from an estimated $100 million gross initial public offering of common stock.

The New York-based aircraft brake manufacturer announced the IPO Friday in an S-1 filing with the Securities and Exchange Commission.

Goldman Sachs and Lehman Brothers are the co-lead underwriters for the stock offering.

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