Noranda Aluminum buys back $35.6 million floaters in fourth quarter

By Susanna Moon

Chicago, March 2 - Noranda Aluminum Holding Corp. repurchased $35.6 million of its senior floating-rate notes due 2014 and senior floating-rate notes due 2015 in the fourth quarter for $29.5 million.

The company repurchased $161.9 million of the floaters due 2014 for $43 million and $194.5 million of the floaters due 2015 for $109.5 million during 2009, according to a 10-K filing with the Securities and Exchange Commission.

During the first nine months of 2009, Noranda repurchased $320.8 million principal amount of the notes for a total price of $123 million.

The company said on March 1 that it repurchased $83 million principal amount of its debt for $64.2 million plus fees in the fourth quarter.

The company recorded an $18 million gain on these debt repurchases, according to an earnings release for the fourth quarter and fiscal year of 2009.

Noranda is a Franklin, Tenn.-based producer of value-added primary aluminum products as well as high-quality rolled aluminum coils.

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