Communications & Power to redeem 12% notes

New York, Jan. 28 - Communications & Power Industries Inc. (B3/B-) said it will redeem all its outstanding 12% senior subordinated notes due 2005.

The company issued $100 million of the notes in August 1995.

Communications & Power Industries said the notes will be redeemed on Feb. 22 at a price of 101.5% of the principal amount plus accrued and unpaid interest up to but not including the redemption date.

Communications & Power Industries is a Palo Alto, Calif.-based manufacturer and distributor of vacuum electron devices and other related equipment for defense and commercial applications.

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