L-3 Communications calls $650 million 5 7/8% notes due 2015 at 101.958

By Melissa Kory

Cleveland, Feb. 7 - L-3 Communications Holdings, Inc. said that its subsidiary L-3 Communications Corp. will redeem its outstanding $650 million of 5 7/8% senior subordinated notes due in 2015.

The notes will be redeemed on March 9 at 101.958% of par plus accrued interest to the redemption date.

Bank of New York Mellon is the redemption agent.

In connection with the redemption, the company will record a debt retirement charge of $18 million in the first quarter of 2011.

Based in New York, L-3 is a contractor in aircraft modernization and maintenance, secure communications systems and government services.

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