Head and HTM Sport GmbH to redeem all senior secured notes due 2012

By Tali David

Minneapolis, Sept. 21 - Head NV and its subsidiary HTM Sport GmbH announced the full redemption of their outstanding senior secured notes due 2012.

The collective redemption price for the notes to be redeemed is €29,409,145, which comprises the principal amount of €28,762,000 and accrued interest to the redemption date of €647,145, according to the news release.

The redemption date is expected to be Oct. 21.

According to the release, the redemption price will be paid from excess cash generated by the company and new financing agreements that have been entered into in 2011.

Head is an Amsterdam-based manufacturer and marketer of premium sports equipment.

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