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Ovako calls senior secured notes due 2022 as part of sale of company
New York, May 16 – Ovako AB will redeem its €310 million of senior secured notes due 2022 as part of the acquisition of the company by Nippon Steel & Sumitomo Metal Corp., according to a notice.
The notes will be repaid on a date that will be at least 10 business days after the transaction receives competition clearance.
Holders will receive 102% of par plus accrued interest.
Ovako is a Stockholm-based company that produces and develops high-tech steel solutions for customers in the ball bearing, transportation and manufacturing industries.
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