Big 5 to buy back remaining $33.1 million 10 7/8% notes

Pittsburgh, Oct. 27 - Big 5 Sporting Goods Corp.'s subsidiary Big 5 Corp. will repurchase the remaining $33.1 million outstanding of its 10 7/8% senior notes, beginning with a redemption of $10 million of the notes on Nov. 30, according to a company news release.

The notes will be redeemed at 101.825% of par, the release said.

Big 5 will complete the redemption of the other outstanding notes in the fourth quarter, subject to obtaining the necessary amendments to its credit facility.

The redemption is expected to save the company $1.4 million in annualized interest expense savings.

Big 5 is an El Segundo, Calif., sporting goods retailer.

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