Varex to redeem $27M of 7.875% senior notes

• Varex Imaging (NASDAQ:VREX) has announced partial redemption of its 7.875% senior secured notes due 2027.
• The firm plans to redeem $27M of aggregate principal amount of the notes at a price equal to 103% of the principal amount thereof, plus accrued and unpaid interest from and including Oct. 15, 2021, to but excluding the redemption date of Mar. 18, 2022.
• Upon completion of the partial redemption, the remaining outstanding aggregate principal amount of the senior secured notes will be $243M.
• CFO Sam Maheshwari noted, "Our continued cash generation is enabling us to further pay down our senior secured debt, and this partial redemption will reduce our on-going cash interest expense by $2.1M."