Kemet pulls $400 million secured notes offer amid market conditions

By Paul A. Harris

Portland, Ore., Nov. 17 – Kemet Corp. announced in a Monday press release that it has withdrawn its proposed $400 million offering of five-year senior secured notes in response to current market conditions.

The Rule 144A and Regulation S offering, which was in the market via manager BofA Merrill Lynch, was marketing with a roadshow earlier in the month.

The Greenville, S.C.-based electronic components manufacturer planned to use the proceeds to fund the redemption of its 10½% senior notes due 2018 and to pay down its credit facility.

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