K&F calls 11½% PIK notes

New York, Aug. 12 - K&F Industries Holdings, Inc. said it has called its 11½% senior PIK notes due 2015, with the redemption to be funded with proceeds of its initial public offering.

The White Plains, N.Y., aircraft brake manufacturer will redeem the notes on Sept. 12 at 105.75 plus accrued and unpaid interest and additional interest to the redemption date.

Remaining proceeds of the IPO will be used to redeem K&F's junior series A redeemable exchangeable preferred stock, to pay a cash dividend to existing stockholders and to pay expenses.

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