Crystallex to retire $100 million 9 3/8% notes with units proceeds

By Susanna Moon

Chicago, Oct. 11 - Crystallex International Corp. said it plans to retire its $100 million principal amount of outstanding 9 3/8% senior notes due Dec. 23, 2011 using proceeds from its subsidiary's private placement of up to $120 million of units.

The company will also pay accrued interest.

The units will consist of one $1,000 principal amount senior secured note and one contingent value right.

The notes will mature in five years, subject to extension, and the coupon will be set at a later date.

Proceeds from the issue will also be used for general corporate purposes.

Macquarie Capital (USA) Inc., GMP Securities LP and Byron Capital Markets Ltd. are the co-lead agents of the placement.

Crystallex is a mining company based in Toronto.

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