Sherritt exercises make-whole call for C$274 million 7 7/8% notes

By Susanna Moon

Chicago, Oct. 28 - Sherritt International Corp. plans to call its C$274 million of outstanding 7 7/8% series A senior debentures due Nov. 26, 2012.

The company will pay par plus a make-whole premium for the notes on Nov. 26.

Funding for the call will come from proceeds of a C$400 million issue of 8% seven-year senior debentures due Nov. 15, 2018.

The notes offering is expected to close on Nov. 2.

Toronto-based Sherritt International produces coal and mines and refines nickel.

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