L-3 (NYSE: LLL) has initiated a full redemption of its outstanding $650 million 5⅞ percent Senior Subordinated Notes due in 2015.
According to the firm, “the Notes will be redeemed on March 9, 2011, at a redemption price of 101.958 percent of the principal amount thereof, plus accrued and unpaid interest to March 9, 2011. On or before March 9, 2011, the Notes should be presented to The Bank of New York Mellon, as paying agent for the redemption, at the address set forth in the Notice of Redemption for the Notes. The Notice of Redemption for the Notes was sent to all registered holders on Feb. 7, 2011. Interest on the Notes will cease to accrue on and after March 9, 2011 and the only remaining right of holders of the Notes is to receive payment of the redemption price upon surrender to the paying agent, plus accrued and unpaid interest up to, but not including, March 9, 2011.”
