Sherritt sets redemption price for C$225 million of 8¼% series B notes

By Tali David

Minneapolis, Sept. 24 - Sherritt International Corp. announced the redemption price for its C$225 million of 8¼% series B senior unsecured debentures, according to a press release.

The bonds, which are due Oct. 24, 2014, will be redeemed at C$1,160.56 per $1,000 principal amount on Oct. 24.

The redemption will be funded with the proceeds from the company's new 7½% series 2 offering.

Sherritt is a Toronto-based miner and refiner of natural resources.

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