American Pacific redeems 9% senior notes via credit facility funds

By Ashley Montgomery

Kansas City, Kan., Oct. 31 - American Pacific Corp. used the proceeds from its new credit facility to redeem all of its 9% senior notes due 2015, according to a company news release and an 8-K filed with the Securities and Exchange Commission.

The notes will be redeemed on Nov. 25 at 102.25 plus accrued interest up to the redemption date.

The company said it deposited funds for the redemption on Oct. 26, the date on which American Pacific also entered into the new credit facility agreement.

The new facility is in the amount of $85 million, with a $60 million term loan and $25 million of revolving loans. The term loan matures in five years.

Funds for the redemption also came from available cash, the company said.

Wells Fargo Bank, NA is the trustee.

American Pacific is a Las Vegas-based custom manufacturer of fine and specialty chemicals.

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