LAS VEGAS, Aug. 9, 2012 /PRNewswire/ -- American Pacific Corporation ("AMPAC") (NASDAQ: APFC) announced today that its board of directors has authorized management to proceed immediately to redeem $40 million of its outstanding senior notes at a call premium of 102.25. AMPAC expects to complete this redemption during September 2012.
Additionally, AMPAC announced that it has engaged KeyBanc Capital Markets to assist in arranging new senior secured debt facilities. The net proceeds of such anticipated new debt would be used to, among other things, redeem the remaining balance of the AMPAC's senior notes. AMPAC expects to complete this final phase of its refinancing efforts during its fiscal 2013 first quarter, which ends on December 31, 2012.
RISK FACTORS/FORWARD-LOOKING STATEMENTS
Statements contained in this press release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include statements regarding AMPAC's expectations, beliefs or intentions regarding the future and other statements of management's opinion. Forward-looking statements in this press release include without limitation statements concerning or relating to AMPAC's expected refinancing activities and the timing of any such activities. Words such as "anticipate", "expect", "can", "will" and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause AMPAC's actual results, market performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by AMPAC that any of its expectations will be achieved. Factors that could cause actual results to differ materially from such forward-looking statements include risks and uncertainties detailed in AMPAC's periodic and other filings with the Securities and Exchange Commission, including in Management's Discussion and Analysis of Financial Condition and Results of Operations and in Risk Factors in AMPAC's annual report on Form 10-K for the fiscal year ended September 30, 2011 and quarterly reports on Form 10-Q for the quarters ended December 31, 2011 and March 31, 2012. All forward-looking statements contained in this release are made as of the date hereof, based on information available to AMPAC as of the date hereof, and AMPAC assumes no obligation to update any forward-looking statement, whether for actual results or otherwise, except as required by law.ABOUT AMERICAN PACIFIC CORPORATION AMPAC is a leading custom manufacturer of fine and specialty chemicals. AMPAC supplies active pharmaceutical ingredients and advanced intermediates to the pharmaceutical industry. For the aerospace and defense industry, AMPAC provides specialty chemicals used in solid rocket motors for space launch and military missiles. AMPAC produces clean agent chemicals for the fire protection industry, as well as electro-chemical equipment for the water treatment industry. Additional information about AMPAC can be found at www.apfc.com. Contact: Dana Kelley – (702) 735-2200E-mail: InvestorRelations@apfc.comWebsite: www.apfc.com SOURCE American Pacific Corporation
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV