Airgas redeems 6.25% notes, repurchases $58 million of 7.125% notes

By Devika Patel

Knoxville, Tenn., Oct. 14 - Airgas, Inc. said it has redeemed all of its $150 million of 6.25% senior subordinated notes due July 15, 2014 in the third quarter.

The company paid 103.125 for the notes and will record a loss of about $6 million on the early extinguishment of debt. The loss will be reflected in the third quarter ending Dec. 31.

During the second quarter, Airgas repurchased $58 million of its $400 million of 7.125% senior subordinated notes due Oct. 1, 2018 at an average price of 102.2%.

The company will record a loss of roughly $2 million on this early extinguishment of debt. The loss will be reflected in the second quarter ending Sept. 30.

Based in Radnor, Pa., Airgas is a distributor of industrial, medical and specialty gases and related products.

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