Graftech to redeem $50 million additional 10¼% notes

By Jennifer Chiou

New York, April 24 - Graftech International Ltd. plans to redeem $50 million more of its 10¼% senior notes due 2012 on May 23, according to a 8-K report filed with the Securities and Exchange Commission.

Graftech said that it will redeem the notes at 105.125% plus accrued interest using cash flow from operating and financing activities.

On March 16, the company announced plans to redeem $15 million more of the notes.

In February, the company redeemed $120 million of the 10¼% notes at 105.125% of par plus accrued interest using proceeds from the sale of its cathode business.

The Parma, Ohio-based graphite and carbon producer said that after the redemption, $250 million of notes will remain outstanding.

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