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Goodman Global paid down revolver in July, bought back $76 million 13½%/14% notes in April
By Jennifer Chiou
New York, Aug. 14 - Goodman Global, Inc. repaid in full its revolving credit agreement with $50 million payments in both June and July and also purchased $76 million face value of its 13½%/14% senior subordinated notes at a cost of $58.9 million in April, according to a 10-Q filing with the Securities and Exchange Commission.
The $58.9 million is inclusive of $1.9 million in accrued interest.
The company said it recognized a gain of $16.6 million as a result of the early extinguishment of debt, adding that the repurchased notes are held by Goodman Global Finance (Delaware) LLC, an unrestricted subsidiary of Goodman Global, Inc.
Goodman Global, located in Houston, manufactures heating, ventilation and air conditioning products for residential and light-commercial use.
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