Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Tenders 2011 > News item |
Unifi issues call to redeem $10 million 11½% notes due 2014 on Aug. 5
By Toni Weeks
San Diego, July 6 - Unifi, Inc. has issued a call to redeem $10 million of its 11½% senior secured notes due 2014, according to a press release.
The redemption will occur Aug. 5 at a redemption price of 102.875 plus accrued interest. Unifi plans to finance the redemption using borrowings under its existing secured asset-based revolving credit facility and cash on hand.
Following the transaction, $123.7 million of the notes will remain outstanding.
The redemption will result in a one-time pre-tax charge of $500,000, or $0.02 per share, in the fiscal 2012 first quarter for early extinguishment of debt. The charge will consist of a $200,000 non-cash charge related to the write-off of the unamortized debt issuance costs and $300,000 of call premiums related to the redemption price.
Unifi makes multi-filament polyester and nylon textured yarns and related raw materials and is based in Greensboro, N.C.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.