Alliant Techsystems to redeem 6¾% senior subordinated notes due 2016

By Angela McDaniels

Tacoma, Wash., Sept. 6 - Alliant Techsystems Inc. will redeem its 6¾% senior subordinated notes on Sept. 7 for $409 million, according to an 8-K filing with the Securities and Exchange Commission.

The company will use the proceeds of a new $200 million incremental senior secured term loan A to help fund the redemption.

The notes are being redeemed at 102.25% of par plus accrued interest, according to the company's latest 10-Q filing.

The 10-Q filing was made on Aug. 9. At the time, the company said the balance of the redemption would be paid from available cash and/or its existing senior credit facility.

Alliant is an aerospace, defense and commercial products company based in Minneapolis.

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