Lear redeems $56 million 7 7/8% notes due 2018, 8 1/8% notes

By Tali David

Minneapolis, April 25 - Lear Corp. redeemed 10% of its $280 million of 7 7/8% senior secured notes due 2018 and $280 million of 8 1/8% senior secured notes due 2020, according to a 10-Q filed with the Securities and Exchange Commission.

The notes were redeemed at 103 plus accrued interest on March 26.

The redemptions were funded with the proceeds from a 4¾% notes due 2023 offering.

Lear is a Southfield, Mich.-based automotive parts supplier.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.