GrafTech calls remaining $24 million 10¼% senior notes

By Marisa Wong

Milwaukee, Aug. 31 - GrafTech International Ltd. announced that it will redeem its $24 million of 10¼% senior notes due 2012 - all the remaining outstanding senior notes - on Sept. 28.

The redemption price is 101.708% of par, plus accrued interest up to the redemption date.

Cash flow from operations and financing activities will be used to fund the redemption.

UCAR Finance Inc. was the original issuer of the dbet. U.S. Bank NA is the trustee or agent.

"With this redemption we have completed the extinguishment of the senior notes, which originally totaled $550 million and represent our most expensive debt. The retirement of the senior notes is consistent with our team's stated goal of maximizing cash flow to reduce debt and grow our company," said Craig Shular, chief executive officer of GrafTech, in a news release.

sGrafTech is a manufacturer of synthetic and natural graphite and carbon-based products, headquartered in Parma, Ohio.

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