Goodman Global to redeem all 9.5% exchangeable preferreds, $70 million floaters due 2012

By Jennifer Chiou

New York, April 11 - Goodman Global, Inc. said it intends to use the proceeds from its initial public offering to redeem all of its 9.5% series A cumulative senior redeemable exchangeable preferred stock and $70 million of its senior floating-rate notes due 2012.

The company said it will redeem the preferreds for about $225 million. Goodman added it will redeem the floaters at 102% plus accrued interest up to June 15, the redemption date.

The Houston manufacturer of heating, ventilation and air conditioning products announced it sold 27,058,822 shares at $18.00 per share, including a greenshoe for 3,529,411 shares.

Remaining proceeds will be used for general corporate purposes.

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