STOCKHOLM, Sweden, Nov. 16, 2005 (PRIMEZONE) -- Alfa Laval -- a world leader in heat transfer, centrifugal separation and fluid handling -- today announces that the Company has redeemed its outstanding high yield bonds.
Alfa Laval has, according to previously announced intention, redeemed its high-yield bond loan, of originally EUR 220 million, 12 1/8% Senior Notes due 2010 (ISIN number: XS0132570606) in full.
The redemption price of the outstanding part of the bond loan, approximately EUR 115 million, was 106.063%, which means an interest penalty of 6.063%. In total this means a non-recurring cost of approximately SEK 85 million that will be charged to the financial net in the fourth quarter of 2005.
The refinancing of the bond will give an annualised improvement to the interest net of approximately SEK 80 million from 2006.
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