Coleman Cable bought back $2.2 million more 9 7/8% notes in July following revolver amendment

By Jennifer Chiou

New York, Aug. 7 - Coleman Cable Inc. purchased an additional $2.2 million of its 9 7/8% senior notes due 2012 after a required amendment to its revolving credit facility to allow the repurchases, according to an 10-Q filed with the Securities and Exchange Commission.

The company amended the $200 million five-year credit facility on July 18, allowing for the use of up to $30 million to redeem, retire or repurchase the notes.

As already reported, the company 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.

During the second quarter of 2009, Coleman repurchased $12.8 million total of the notes at a discount.

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

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