logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Federal investigators have closed their probe of a fatal crash that involved a Tesla Motors Inc. car eight months ago. The regulators said they have found no safety defects in the vehicle's automated driving system and that Tesla's Autopilot-enabled vehicles did not need to be recalled. Consumer goods giant Procter & Gamble Co. on Friday reported a profit for the second quarter that more than doubled from last year on a one-time gain and higher margins, while sales edged lower. Both revenue and core earnings per share for the quarter beat analysts' estimates. General Electric Company (GE) reported that its fourth-quarter Industrial operating plus Verticals EPS, a non-GAAP measure, decreased to $0.46 from $0.52 last year. Industrial operating plus Verticals earnings excluding gains & restructuring was $0.50 compared to $0.47. On average, 17 analysts polled...
comments powered by Disqus
Follow RTT