Handy & Harman to redeem $31.8 million 10% notes due 2017 on April 25

By Toni Weeks

San Luis Obispo, Calif., March 27 - Handy & Harman Ltd. subsidiary Handy & Harman Group Ltd. plans to redeem its roughly $31.8 million of outstanding 10% subordinated secured notes due 2017, according to an 8-K filed with the Securities and Exchange Commission.

The notes will be redeemed at 112.6 plus accrued payment-in-kind interest as well as accrued cash interest on the redemption date, April 25.

The subordinated notes are part of a unit, which also includes warrants to purchase common shares. Because the notes and warrants are not detachable until Oct 14, 2013, the units are thus also being redeemed, the filing noted.

Wells Fargo Bank, NA is the trustee.

Handy & Harman is a White Plains, N.Y.-based industrial company involved in pericous metals, tubing and engineered materials.

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