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KEMET Prices $110 Mln Of Senior Notes

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KEMET Corp. (KEM: Quote) said Thursday that it has priced an offering of $110 million of aggregate principal amount of 10-1/2% senior notes due 2018.

This represents an increase of $10 million from the initial offering terms announced earlier Thursday. The Senior Notes are priced at 105.5% on a principal amount of $110 million plus accrued interest from November 1, 2011.

The sale of the senior notes is expected to be completed on or about March 27.

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

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by RTT Staff Writer

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