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GenCorp looks to amend credit facility, refinance subordinated debt
By Angela McDaniels
Tacoma, Wash., May 26 - GenCorp Inc. is hoping to amend its $280 million senior credit facility and refinance its subordinated debt and has engaged Imperial Capital, LLC to help in these efforts, according to a company news release.
In March, the company said it is seeking an amendment to its credit facility that would allow for the repayment of its $125 million of 4% contingent convertible subordinated notes that are putable on Jan. 16, 2010.
At the time, GenCorp said it expects it would not have enough liquidity to immediately repay the noteholders if the notes were put.
GenCorp makes aerospace and defense products and is based in Rancho Cordova, Calif.
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