Skip to main content

Airgas Retires Notes

The refinancing will save money on interest payments.



announced Wednesday the early retirement of 9.125% senior subordinated notes, which are due Oct. 1, 2011. On Oct. 27, the full $225 million notes will be redeemed at a premium of 104.563%, the Radnor, Pa.-based company said.

In the third quarter, the company will recognize a loss of $8 million, or 10 cents a share, on the early extinguishment of debt as redemption premium and the write-off of unamortized debt issuance costs.

Scroll to Continue

TheStreet Recommends

The redemption of the notes will be financed with revolving credit facility borrowings, which will save the estimated interest of $500,000 a month, the company added.

This story was created through a joint venture between and IRIS.