Vought to repay bank debt with IPO proceeds

By Sara Rosenberg

New York, May 16 - Vought Aircraft Industries Inc. plans on repaying borrowings under its senior credit facility using proceeds from an initial public offering of common stock, according to an S-1 filed with the Securities and Exchange Commission Friday.

Remaining proceeds will be used for working capital and other general corporate purposes.

Vought is a Dallas-based independent supplier of aerostructures.

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