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China Lumena calls all $250 million 12% senior notes due 2014
By Marisa Wong
Madison, Wis., Oct. 29 - China Lumena New Materials Corp. said it will redeem all of its outstanding $250 million 12% senior notes due 2014.
The notes will be redeemed on Nov. 30 at 106 plus accrued interest to the redemption date.
The redemption, which is meant to reduce the company's future interest expense and finance cost and to improve its financial position, will be financed by a loan from China Development Bank.
Lumena is engaged in the mining, processing and manufacturing of natural thenardite products and the production and development of polyphenlene sulfide.
The company is based in Chengdu, Sichuan, China.
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