Associated Materials calls 9¾% notes due 2012, 15% notes due 2015

By Susanna Moon

Chicago, Nov. 5 - Associated Materials, LLC said it plans to redeem all of its outstanding $165 million of 9¾% senior subordinated notes due 2012 and all of its outstanding $20 million of 15% senior subordinated notes due 2012.

The redemption date is Dec. 7.

Associated said it will pay 101.625% of par for the 9¾% notes and 101% of par for the 15% notes. The company also will pay accrued interest to the redemption date.

Funding for the call will come from an issuance of $200 million principal amount of 9 7/8% senior secured second-lien notes due 2016 in a private offering.

Associated said on Oct. 26 that it planned to redeem both series of notes using funds from the private placement.

The issuer is a Dallas-based company that manufactures and distributes exterior building products, including vinyl siding.

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