Unifi announces full redemption of $123.72 million 11½% notes due 2014

By Ashley Montgomery

Kansas City, Kan., April 24 - Unifi, Inc. will redeem all $123,722,000 outstanding of its 11½% senior secured notes due 2014, according to a news release.

The notes will be redeemed May 24 at par plus accrued interest.

The company plans to fund the redemption with cash on hand, a new senior secured credit facility and a new term loan, the release said.

Unifi is a Greensboro, N.C.-based manufacturer of multi-filament polyester and nylon textured yarns and related raw materials.

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