GenCorp calls part of 9½% notes for redemption

By Paul Deckelman

New York, Jan. 11 - GenCorp Inc. said that it has called for redemption $52.5 million principal amount of its 9½% senior subordinated notes due 2013, or 35% of the $150 million outstanding.

GenCorp, a Sacramento, Calif.-based high-tech manufacturer of aerospace and defense products and systems, said the redemption will occur on Feb. 9, subject to possible extension, at a price of 109.5, plus accrued and unpaid interest.

The notes are being redeemed under the equity clawback provision of their indenture, using a portion of the proceeds from the company's recent equity offering, which was completed in November.

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