Heckler & Koch to redeem 9½% senior secured notes on Aug. 24

New York, July 24 – Heckler & Koch GmbH will redeem its €220.3 million of 9½% senior secured notes due 2018 on Aug. 24, according to an announcement from parent company H&K AG.

Bondholders will receive par plus accrued interest.

Funding will come from €50 million of new equity to be injected into H&K and a private debt financing transaction.

The new equity is in the form of a shareholder loan that will be converted into share capital. Details of the new debt financing were not disclosed in the announcement.

Following the refinancing, the company will have €170 million of debt.

Heckler & Koch is an Oberndorf am Necker, Germany-based small-arms maker.

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