Graftech calls $50 million of 10¼% notes

By Susanna Moon

Chicago, July 13 - Graftech International Ltd. will redeem $50 million of its 10¼% senior notes due 2012 on July 11, according to an 8-K filing with the Securities and Exchange Commission.

The company said it would pay 105.125% plus accrued interest using operating cash and proceeds from asset sales to fund the redemption.

The redemption date is expected to be Aug. 10. After the redemption, $200 million of the notes will remain outstanding.

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

Graftech is a Parma, Ohio-based graphite and carbon producer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.