Rexnord Holdings retires portion of pay-in-kind toggle notes due 2013

By Jennifer Chiou

New York, Feb. 4 - Rexnord LLC's indirect parent company, Rexnord Holdings, Inc., retired a portion of its pay-in-kind toggle senior notes due 2013, according to a 10-Q filing with the Securities and Exchange Commission.

The retirement was made using $55 million total of dividend payments from Rexnord during the first nine months of fiscal 2010, which it partially funded with a portion of the $47.5 million of borrowings it made under its revolving credit facility.

Cash used for financing activities was $31.6 during the third quarter of fiscal 2010.

Rexnord is a Milwaukee-based manufacturer of highly engineered power transmission, aerospace and other precision motion technology products.

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