Anixter to redeem senior debt due 2014
By APThursday, March 4, 2010
Anixter to redeem senior debt due 2014
GLENVIEW, Ill. — Anixter International Inc. said Thursday that it is redeeming senior debt due 2014 that carries an interest rate of 10 percent.
Anixter will pay $1,140 in cash for each $1,000 of notes turned in by 5 p.m. EDT on April 1. Those who turn in their notes by 5 p.m. EDT on March 17 will get an extra $30 for every $1,000 senior note tendered.
The company expects to pay early participants on March 18. Those who tender by the April 1 date will be paid on April 5.
BofA Merrill Lynch is the dealer manager of the offer.
Anixter provides fasteners and electrical wire and cable to communications firms. Shares of the Glenview, Ill.-based company rose by 15 cents to $43.22 on Thursday.
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