Dade Behring to redeem $9.6 million 11.91% notes

New York, Jan. 5 - Dade Behring said it will redeem $9.6 million principal amount of its 11.91% senior subordinated notes due 2010 on Jan. 23.

The Deerfield, Ill., clinical diagnostics company will redeem the notes at 111.91% of par plus accrued interest.

"This bond redemption is another step in our continuing commitment to paying down our overall debt and strategically managing cash. Our goal is to position Dade Behring for the future through intelligent cash management, strategic investment and strong and enduring customer relationships," said Jim Reid-Anderson, Dade Behring's chairman, president and chief executive officer, in a news release.

Dade Behring has previously repaid outstanding bank debt. Through Nov. 18, it repaid $125 million of credit facility borrowings in 2003.

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