American Railcar Industries, Inc. : Announces Partial Redemption of Its 7.5% Senior Notes Due 2014
08/03/2012| 05:58pm US/Eastern
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August 3, 2012
American Railcar Industries, Inc. Announces Partial
Redemption of Its 7.5% Senior Notes
Due 2014
ST. CHARLES, Mo., Aug. 3, 2012 (GLOBE NEWSWIRE) -- 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
Source: American Railcar Industries, Inc. News Provided by
Acquire Media
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