L-3 plans redemption for $800 million in 6 1/8% notes due 2013, 2014

By Devika Patel

Knoxville, Tenn., May 21 - L-3 Communications Holdings, Inc. said subsidiary L-3 Communications Corp. will redeem in full its $400 million in 6 1/8% senior subordinated notes due 2013 and its $400 million in 6 1/8% senior subordinated notes due 2014.

The 2013 notes will be redeemed at 101.02 plus interest to, but not including, the redemption date of July 15.

The 2014 notes will be redeemed at 102.04 plus interest to, but not including, June 21, the redemption date.

In connection with these redemptions, the company will record an $18 million debt retirement charge, of which $13 million will be recorded in the second quarter and $5 million will be recorded in the third quarter.

The Bank of New York Mellon is the paying agent for both notes.

Based in New York, L-3 is a contractor in aircraft modernization and maintenance, secure communications systems and government services.

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