Coleman Cable pays $7.5 million to buy some 9 7/8% notes at discount

By Jennifer Chiou

New York, June 18 - Coleman Cable Inc. purchased for $7.5 million some of its 9 7/8% senior notes due 2012 at a "substantial" discount, according to an 8-K filed with the Securities and Exchange Commission.

The company amended its credit facility on Thursday, allowing for the use of up to $30 million to redeem, retire or repurchase the notes. It is only allowed to spend the money on the note repurchase if excess availability under the revolver after giving effect to the repurchase remains above $40 million.

Coleman Cable is a Waukegan, Ill.-based designer, developer, manufacturer and supplier of electrical wire and cable products.

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