Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

KEMET Prices $110 Mln Of Senior Notes

RELATED NEWS
Trade KEM now with 

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.

Click here to receive FREE breaking news email alerts for KEMET Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After coming under pressure in early trading, stocks have seen some further downside over the course of the trading day on Friday. With the losses on the day, the S&P 500 is pulling back well off the record closing high that it set in the previous session. After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than expected in the month of June. British economic growth remained high as expected in the second quarter as a robust expansion in the dominant service sector, and industry completely offset the slight weakness in the construction sector. With the second quarter expansion, GDP returned to its pre-crisis level. Gross domestic product grew 0.8 percent sequentially in the second quarter, the same rate as seen in the first quarter.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.