American Railcar Industries, Inc. Announces Partial Redemption of Its 7.5% Senior Notes Due 2014
August 03 2012 - 4:15PM
American Railcar Industries, Inc. (ARI or the Company)
(Nasdaq:ARII) announced today that it has delivered notice to
redeem a portion of its 7.5% senior notes due 2014 (the "Notes"),
CUSIP No. 02916PAB9. The notice is for redemption of $100.0 million
aggregate principal amount of the $275.0 million principal amount
owed on the Notes. The redemption price is 101.875% of the
principal amount redeemed, plus accrued and unpaid interest thereon
up to, but excluding, the redemption date. The redemption date will
be September 4, 2012.
"This partial redemption will allow us to lower our interest
payments, which will further contribute to improving our bottom
line," said James Cowan, President and CEO of ARI.
About ARI
ARI is a leading North American designer and manufacturer of
hopper and tank railcars. ARI leases railcars manufactured by the
Company to certain markets. In addition, ARI repairs and
refurbishes railcars, provides fleet management services and
designs and manufactures certain railcar and industrial components.
ARI provides its railcar customers with integrated solutions
through a comprehensive set of high quality products and related
services.
Forward Looking Statement Disclaimer
This press release contains certain forward-looking statements
as defined under the Private Securities Litigation Reform Act of
1995. Forward-looking statements represent the Company's estimates
and assumptions only as of the date of this press release. Such
forward-looking statements include all statements other than
statements of historical fact, and all statements regarding the
partial redemption of the Notes, including statements regarding the
anticipated benefits of the partial redemption. The Company's Form
10-K, as amended by Form 10-K/A, for the year ended December 31,
2011, subsequent quarterly reports on Form 10-Q and other
subsequent filings with the Securities and Exchange Commission
identify important risks and other factors that could cause actual
results to differ materially from those contained in the Company's
projections, estimates and forward-looking statements.
CONTACT: Dale C. Davies
Michael Obertop
636.940.6000
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