LSB redeems all $50 million 12% notes, $50 million of 7¾% notes

By Marisa Wong

Morgantown, W.Va., Oct. 14 – LSB Industries, Inc. redeemed all $50 million of its outstanding 12% senior secured notes due 2019 on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The 12% notes were redeemed at 106 plus accrued interest to the redemption date.

Also on Friday, the company redeemed $50 million of its 7¾% senior secured notes due 2019 at 103.875 plus accrued interest to the redemption date.

Following the partial redemption, the interest rate for all of the remaining outstanding 7¾% notes was increased to 8½%. The coupon adjustment is effective retroactively to Aug. 1.

Last month the company obtained consents from holders of the 7¾% notes for both redemptions, as previously reported.

LSB is a manufacturing, marketing and engineering company based in Oklahoma City.

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