Finova to make $59.36 million partial prepayment on 7½% notes

By Caroline Salls

Pittsburgh, April 3 - The Finova Group Inc. will make a $59.36 million partial principal prepayment on its 7½% senior secured notes due 2009 with contingent interest due 2016, according to an 8-K filing with the Securities and Exchange Commission.

The partial prepayment will be made on May 15 to holders of record as of 5 p.m. ET on May 8. It will pay accrued interest up to but excluding the prepayment date.

Including the May prepayment, Finova will have prepaid 47% of the $2.97 billion principal amount of the notes outstanding as of Dec. 31, 2003.

Scottsdale, Ariz.-based Finova is a financial services holding company that emerged from Chapter 11 bankruptcy in 2001.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.