General Cable to pay down ABL borrowings with notes proceeds

By Sara Rosenberg and Paul A. Harris

New York, Sept. 22 – General Cable Corp. plans on repaying debt under its ABL facility using proceeds from a $250 million senior notes offering, according to a market source.

Remaining proceeds will be used to redeem the company’s floating-rate notes due 2015 and fund a restructuring program.

General Cable is a Highland Heights, Ky.-based producer of copper, aluminum and fiber optic wire and cable products.

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