Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Z > Headlines for Zebra Technologies Corp. > News item |
Zebra Technologies to redeem $750 million 7¼% notes at $815.31 million
By Marisa Wong
Morgantown, W.Va., Aug. 2 – Zebra Technologies Corp. will redeem $750 million of its outstanding 7¼% senior notes due 2022 for a redemption price of $815,311,324, or $1,087.081765 per $1,000 principal amount, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The redemption price is equal to par plus a make-whole premium plus accrued interest to but excluding the redemption date. Aggregate accrued interest on the called notes has been calculated to be $16,916,667. The total applicable premium is equal to $48,394,657.
The notes will be redeemed on Aug. 7.
As announced on July 6, the partial redemption is conditioned on Zebra’s receipt of proceeds from one or more new lower-cost financing transactions, including a term loan credit facility, sufficient to pay to redemption costs. The company said it expects the financing condition to be met on or prior to the redemption date.
The Lincolnshire, Ill.-based printing technologies company intends to redeem the remaining $300 million of the 7¼% notes by year-end, according to an announcement on July 26.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.