L-3 Communications Holdings LLL announced today that L-3
Communications Corporation, its wholly owned subsidiary, has initiated a
redemption of its remaining outstanding $250 million of 6⅜% Senior
Subordinated Notes due in 2015 (the “Notes”).
The Notes will be redeemed on October 15, 2012 (the “Redemption Date”), at a
redemption price of 101.063% of the principal amount thereof, plus accrued and
unpaid interest, to but not including the Redemption Date. On or before
October 15, 2012, the Notes should be presented to The Bank of New York
Mellon, as paying agent for the redemption, at the address set forth in the
Notice of Redemption for the Notes. The Notice of Redemption for the Notes was
sent to all registered holders on September 13, 2012. Interest on the Notes
will cease to accrue on and after the Redemption Date and the only remaining
right of holders of the Notes is to receive payment of the redemption price
upon surrender to the paying agent, plus accrued and unpaid interest, to but
not including the Redemption Date.
In connection with the redemption of the Notes, the company will record a debt
retirement charge of approximately $5 million ($3 million after income taxes,
or $0.03 per diluted share) in the fourth quarter of 2012.
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