Hexcel intends to redeem $150 million of $225 million 6 ¾% notes

By Melissa Kory

Cleveland, Dec. 13 - Hexcel Corp. announced that it plans to redeem $150 million of its $225 million of 6¾% senior notes due Feb. 1, 2015.

The notes will be redeemed on Feb. 1 at a call premium of 2.25%.

The redemption will primarily be funded by an add-on to Hexcel's $150 million senior secured credit facility, which lifted the facility to $285 million.

Hexcel is a Stamford, Conn.-based manufacturer of composite materials for aerospace, defense, electronics and industrial purposes.

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