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Altra Industrial Motion to redeem some 11¼% notes due 2013
By Jennifer Chiou
New York, Jan. 26 - Altra Industrial Motion, Inc. announced that it will redeem on Feb. 27 £11.55 million of its 11¼% senior notes due 2013.
The Quincy, Mass., designer, producer and marketer of mechanical power transmission products said that the figure represents 35% of the issued notes.
The company added that it will pay 111.25% of the principal amount, plus accrued interest to, but not including, the redemption date.
Altra said it will use proceeds from an equity offering completed by Altra Holdings, Inc. on Dec. 20.
Holders may surrender their notes to The Bank of New York, London Branch or The Bank of New York (Luxembourg) SA.
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