Meritor to partially redeem 10 5/8% notes due 2018 via new offering

By Tali Rackner

Norfolk, Va., Feb. 10 - Meritor Inc. plans to redeem a portion of the $250 million aggregate principal amount outstanding of its 10 5/8% notes due 2018 with the proceeds from a new notes offering, according to a press release.

Proceeds will also be used to repay the outstanding balance of its term loan.

Meritor is a Troy, Mich.-based auto components maker.

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