Interpipe completes redemption of 2024 notes, to delist them 2 min read
The international vertically integrated tube and wheel company Interpipe announced an early full redemption of its notes due in 2024 for a total of $309.192 million, meeting its obligations undertaken during debt restructuring in October 2019.
The repayment was made on January 26, 2021, according to the company s Tuesday press release.
In October 2019 Interpipe announced the restructuring of its debt, which was formalized with a new issue of notes 2024 and bank loans totaling $400 million.
Over the past year, the company made a series of partial redemptions of its notes: in January for the amount of $98.5 million, $97 million in August, $32.4 million in October, and $74.82 million in December. On January 26, 2021, the company made the final repayment of $6.5 million. In addition, the company paid off $90.8 million in bank debt.