Headwaters repays $50 million of second-lien term debt

By Sara Rosenberg

New York, May 27 - Headwaters Inc. repaid $50 million of its senior secured second-lien term loan at a premium of 103 using proceeds from a legal settlement reached in May, according to a company news release.

The company's second-lien term loan now has a remaining balance of $50 million compared to $150 million when it was first obtained.

This second-lien tranche carries an interest rate of Libor plus 550 basis points.

Headwaters is a South Jordan, Utah-based provider of technology and services that maximize the value of fossil fuels.

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