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Georgia Gulf to Redeem More Debt

September 15, 2011 | Vincent Valk

Georgia Gulf is planning to redeem $41.9 million in bonds that were due in 2016, the company says. The bonds will be redeemed on October 20 at a rate of $105.38 per $100 of face value. "Today’s announcement of $41.9 million of debt reduction is in addition to the $22.1 million we repaid in April 2011," says Georgia Gulf CEO Paul Carrico said. "We expect to use future excess cash flow to further reduce leverage, enhance shareholder value, and to invest and grow our...

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