Kemet to repay most bank borrowings with senior notes proceeds

By Sara Rosenberg

New York, Feb. 3 - Kemet Corp. plans to repay substantially all of the debt outstanding under its existing credit facility using proceeds from a $275 million senior notes offering, according to a news release.

Remaining proceeds will be used to fund a tender offer for a portion of the company's outstanding 2.25% convertible senior notes due 2026.

Kemet is a Greenville, S.C.-based provider of surface mount and through-hole capacitor technologies across tantalum, ceramic, film, aluminum, electrolytic and paper dielectrics.

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