Hawk buys back $22.9 million of 8¾% notes in tender

By Susanna Moon

Chicago, Aug. 8 - Hawk Corp. said it completed its offer to purchase its 8¾% senior notes due Nov. 1, 2014 at par.

The offer expired at 5 p.m. ET on Aug. 7. A total of $22.9 million of principal amount was tendered by the deadline out of the $89.4 million outstanding.

The company was required to buy back the notes under the terms of the indenture when the company sold its precision components segment for $94.2 million on Feb. 2, which constituted an asset sale.

Settlement for the tendered notes is expected to occur on Aug. 10.

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