Valmont Industries completes redemption of 6.625% senior notes due 2020

|About: Valmont Industries, Inc. (VMI)|By:, SA News Editor

Valmont Industries (NYSE:VMI) completed the redemption of all $250.2M of its outstanding 6.625% senior notes due April 20, 2020, at a make-whole redemption price equal to ~$266M plus ~$3.6M of accrued and unpaid interest on the notes from April 20, 2018 to, but excluding, the redemption date.

The redemption will result in an after-tax charge to third quarter earnings of ~$11M, or $0.49 per diluted share.

Previously: Valmont Industries announces sale of $255M of senior notes (June 11)

Subscribe for full text news in your inbox