China Lesso calls $130 million of 7 7/8% senior notes due 2016

By Marisa Wong

Madison, Wis., March 18 - China Lesso Group Holdings Ltd. said it will redeem $130 million of its 7 7/8% senior notes due 2016 on May 13.

The notes will be redeemed at 103.93750% of par, equal to a total redemption price of $135,118,750, along with accrued interest to the redemption date.

As of March 17, the total principal amount of 7 7/8% notes outstanding is $258.88 million.

The issuer said it will use proceeds from an existing bank facility to fund the partial redemption.

The Foshan City, China-based manufacturer of plastic pipes and fittings, formerly known as China Liansu Group Holdings Ltd., issued $300 million of the notes in May 2011.

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