GenCorp to repay revolver debt, term A principal payments with convertible proceeds

By Sara Rosenberg

New York, Jan. 12 - GenCorp Inc. plans to repay debt under its revolver and prepay term loan A principal payments that are required in 2004 with proceeds from a $100 million offering of convertible fixed-rate subordinated notes.

Remaining proceeds from the offering will be used for general corporate purposes, according to a company news release.

GenCorp is a Rancho Cordova, Calif., diversified manufacturing and engineering company.

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