VREX - Varex to redeem $27M of 7.875% senior notes

Varex Imaging (NASDAQ:VREX) has announced partial redemption of its 7.875% senior secured notes due 2027. The firm plans to redeem $27M of aggregate principal amount of the notes at a price equal to 103% of the principal amount thereof, plus accrued and unpaid interest from and including Oct. 15, 2021, to but excluding the redemption date of Mar. 18, 2022. Upon completion of the partial redemption, the remaining outstanding aggregate principal amount of the senior secured notes will be $243M. CFO Sam Maheshwari noted, "Our continued cash generation is enabling us to further pay down our senior secured debt, and this partial redemption will reduce our on-going cash interest expense by $2.1M."

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Varex to redeem $27M of 7.875% senior notes