Viasystems Group redeems outstanding $220 million 12% senior notes

By Sahara Marte

New York, June 1 - Viasystems Group, Inc. announced it completed the redemption of its outstanding $220 million of 12% senior secured notes due 2015.

The outstanding notes were redeemed on May 30, according to a press release.

The transaction was funded from an offering of $550 million of 7 7/8% senior secured notes due 2019 priced on April 24.

The remaining proceeds were used to acquire DDi Corp. for $283 million and pay transaction expenses.

Viasystems is a St. Louis provider of printed-circuit boards, wire harnesses and electro-mechanical solutions.

DDi is an Anaheim, Calif., provider of electronics manufacturing services.

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