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
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