GrafTech to repay about $21 million of term debt with convertible proceeds

By Sara Rosenberg

New York, Jan. 14 - GrafTech International Ltd. plans to repay about $21 million of outstanding term loans with proceeds from a $125 million convertible senior debentures offering, according to a company news release.

Remaining proceeds will be used to pay about $49 million toward the antitrust fine assessed by the European Union in July 2001, for general corporate purposes, including strategic acquisitions, and about $46 million to reduce accounts receivable factoring.

GrafTech is a Wilmington, Del., manufacturer and provider of natural and synthetic graphite, and carbon-based products and services.

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