logo
Plus   Neg
Share
Email

KEMET Announces Proposed Offering Of Extra $100 Mln Of 10-1/2% Senior Notes

KEMET Corp. (KEM) said it plans to offer, subject to market and customary conditions, an additional $100 million in aggregate principal amount of 10-1/2% senior notes due 2018 in a private offering that is exempt from registration under the Securities Act of 1933, as amended.

The company noted that the Senior Notes will have identical terms to, and are expected to be treated as a single class with, the $230 million in aggregate principal amount of 10-1/2% senior notes due 2018 issued on May 5, 2010.

KEMET intends to use the net proceeds from the sale of the Senior Notes to finance a portion of the acquisition of Niotan Incorporated, make the initial payment to acquire a portion of NEC TOKIN Corp., pay related transactions fees and expenses and for general corporate purposes.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
RELATED NEWS
Trade KEM now with 
Follow RTT