Harley-Davidson Repurchases $297M of Senior Notes

Harley-Davidson, Inc. HOG has repurchased $297 million of senior unsecured notes scheduled to mature Feb. 1, 2014. The Company repurchased the notes, held by Davis Selected Advisers, L.P., Dec. 10 at a price of $380.8 million. The transaction was priced based on U.S. Treasury rates and market credit spreads. If held to maturity, Harley-Davidson would have incurred total principal and interest payments of approximately $438 million on the notes between now and maturity. The Company used cash on hand for the repurchase. The repurchased notes will be cancelled by the Company.