Ferro repays 7 5/8% debentures due May 1, 2013 following acceleration

By Caroline Salls

Pittsburgh, Aug. 21 - Ferro Corp. repaid in full its $25.57 million of 7 5/8% debentures due May 1, 2013 after indenture trustee J.P. Morgan Trust Co. accelerated the payment, according to an 8-K filing with the Securities and Exchange Commission.

The notes' payment was accelerated following a default for the delayed filing of the company's financial statements and an officer's certificate for its compliance with the terms of the indenture.

The company said it drew on the term loans in its credit facility to meet the accelerated payment requirements.

Ferro is a Cleveland-based performance materials manufacturer.

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