General Cable to redeem 7 1/8% notes, may tender for 7/8% convertibles

By Tali David

Minneapolis, Sept. 25 - General Cable Corp. plans to use the proceeds of its $600 million note offering to refinance its 7 1/8% senior notes due 2017 and its 7/8% senior convertible notes due 2013, according to a press release.

The 7 1/8% notes will be refinanced through a redemption, and the company may use a tender offer to refinance its 7/8% convertibles, the release said.

The company said it will also use proceeds for other general corporate purposes.

General Cable is a Highland Heights, Ky.-based developer, designer, manufacturer, marketer and distributor of copper, aluminum and fiber optic wire and cable products.

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