Defense and Aerospace Business
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Aerospace and Defense Companies
Hexcel Announces Plan to Call $150 Million of Senior Subordinated Notes
December 29th, 2010
Hexcel Corporation (NYSE: HXL) announced that it plans to redeem $150 million of its $225 million 6.75% senior subordinated notes on February 1, 2011 at a call premium of 2.25%. The senior subordinated notes are due on February 1, 2015. The redemption will primarily be funded by an add-on to Hexcel's senior secured credit facility that was just completed. The add-on increased the Company's $150 million revolving loan facility to $285 million.
There are no changes to the terms and conditions of the senior secured credit facility (which includes the revolving loan and a $98 million term loan) that is due July 2015. The interest rate for the senior secured credit facility can...
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Source: Defense and Aerospace Business (2010-12-29)