Exide to sell $675 million of senior secured notes in a private offering
By APFriday, August 6, 2010
Exide to offer $675 million of notes
MILTON, Ga. — Battery maker Exide Technologies said it plans to offer up to $675 million of senior secured notes in a private transaction.
The company said Thursday the notes are expected to be issued in two series, the first maturing in 2015 and the second in 2017.
Exide plans to use the proceeds to repay debt.
Shares fell 30 cents, or 4.9 percent, to $5.84 in afternoon trading.
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