RailAmerica to redeem $74 million of 9¼% senior secured notes at 103

By Marisa Wong

Milwaukee, May 20 - RailAmerica, Inc. plans to redeem $74 million of its 9¼% senior secured notes on June 24, according to a press release.

The notes will be redeemed at 103% of par plus accrued interest up the redemption date.

According to the release, this is the second redemption of the senior secured notes since the company's previously announced initial public offering.

After the redemption, $592 million principal amount of the senior secured notes will remain outstanding.

Jacksonville, Fla.-based RailAmerica owns and operates short line and regional freight railroads in North America.

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