Edgen Murray calls 9 7/8% notes; Pipe Acquisition to redeem floaters

By Jennifer Chiou

New York, May 14 - Edgen Murray, Corp. announced that it will redeem all of its 9 7/8% senior secured notes, while Pipe Acquisition Finance plc has called all of its senior secured floating-rate notes due 2010.

The redemption date is June 11 for both notes series.

The 9 7/8% notes will be redeemed at an amount equal to the present value of 104.938% of the principal amount and accrued interest up to and including Feb. 1, 2008, discounted to the redemption date on a semiannual basis at the Treasury rate plus 50 basis points, plus accrued interest to June 11.

The floaters will be redeemed at 103% plus accrued interest.

Edgen/Murray is a Baton Rouge, Pa.-based distributor of high performance carbon and alloy steel products for use primarily in specialized applications in the energy infrastructure market. Pipe Acquisition Finance is the majority owned subsidiary of Pipe Acquisition Ltd., the parent company of Edgen Murray Europe Ltd., Edgen Murray FZE and Edgen Murray Pte, Ltd.

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