Regal Rexnord redeems senior notes due 2023 in full

Chicago, Oct. 7 – Regal Rexnord Corp. has fully redeemed its senior notes due 2023 on Sept. 30 in connection with the merger between Regal Beloit Corp. and the process and motion control business of Rexnord Corp., according to an 8-K filing with the Securities and Exchange Commission.

With the make-whole payment, principal and interest, the notes were redeemed for a total of approximately $184 million.

Funding for the redemption came from cash on hand and drawings on a credit agreement.

Regal Rexnord manufactures electric motors, mechanical and electrical motion controls and power generation products and is based in Beloit, Wis.

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