Libbey Glass calls $45 million of 6 7/8% secured notes due 2020

By Tali David

Minneapolis, Feb. 21 - Libbey Inc. wholly owned subsidiary Libbery Glass Inc. plans to redeem $45 million of its 6 7/8% senior secured notes due 2020, according to a press release.

The notes will be redeemed at 103 plus accrued interest during the second quarter of 2012.

Following the transaction, $405 million will remain outstanding.

"We are pleased that as a result of our outstanding free cash flow generation in 2012, we are in a position to reduce our outstanding senior note debt by $45 million," CEO Stephanie A Streeter said in the release.

"We continue to make significant progress in our ongoing efforts to reduce our leverage."

Libbey is a Toledo, Ohio-based glassware manufacturer.

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