Kellwood holders agree to new notes in exchange for overdue notes

By Angela McDaniels

Tacoma, Wash., July 23 - Kellwood Co. said it successfully completed the exchange of new senior secured notes due 2014 for its existing $140 million of senior notes that were due on July 15.

The transaction was a par-for-par exchange and maintains the same obligor for the new notes, according to a company news release.

As previously reported, the company had been trying to negotiate an exchange of the bonds since May.

Deutsche Bank, a large holder of the bonds, decided to participate in the exchange after earlier saying it would not.

St. Louis-based Kellwood makes and markets apparel and consumer soft goods. It is an affiliated portfolio company of private investment firm Sun Capital Partners, Inc.

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