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Heidelberger Druckmaschinen calls remainder of 9¼% notes due 2018
New York, May 10 – Heidelberger Druckmaschinen AG said it will complete the redemption of its 9¼% senior notes due 2018.
The final €50,019,500 principal amount, or €140.90 per note, will be repaid on June 10 at a price of 102.3125% of par, or an early redemption premium of €3.26 per note. The company will also pay accrued interest up to but excluding the redemption date, according to a notice.
With this call, the full €355 million of the notes will have been repaid.
Heidelberger Druckmaschinen previously said on March 14 that it would redeem €64.5 million of the bonds on April 15 at a price of 102.3125% of par.
It had previously reduced the outstanding principal amount from €115 million.
In a previous news release chief financial officer Dirk Kaliebe said: “We are continuously working on optimizing our financing framework step by step. Thanks to the annual savings, we have succeeded in giving the company greater financial scope for making acquisitions and investing in growth and innovation.”
Heidelberger Druckmaschinen is a Heidelberg, Germany-based manufacturer of offset printing presses.
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