BancTec to redeem $209 million in notes

By Susanna Moon

Chicago, June 14 - BancTec, Inc. will retire $209 million of notes, according to an 8-K filing with the Securities and Exchange Commission Thursday.

The company will redeem all of its $113 million senior subordinated notes due 2009 and all of its $96 million senior notes due 2008.

To fund the redemption, the company is issuing about $375 million in a private placement of stock.

BancTec is an enterprise content management provider based in Irving, Texas.

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