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Mothers Work completes purchase of $5.86m senior notes
24 Aug '06
1 min read
Mothers Work Inc announced that it has completed a purchase of $5,859,000 face value of its outstanding 11 1/4% Senior Notes in accordance with the prior approval of its Board of Directors to repurchase up to $10 million face value of the Senior Notes.
The company also announced that it will be redeeming the remaining portion of the $10 million authorized ($4,141,000 face value) at a price of 105.625% of face value (plus accrued interest) pursuant to the optional redemption provisions of the indenture of the Senior Notes. The Board approved the redemption on August 22, 2006. The redemption date will be Wednesday, September 27, 2006.
Mothers Work is the world's largest designer and retailer of maternity apparel, using its custom TrendTrack merchandise analysis and planning system as well as its quick response replenishment process to "give the customer what she wants, when she wants it."
The company also announced that it will be redeeming the remaining portion of the $10 million authorized ($4,141,000 face value) at a price of 105.625% of face value (plus accrued interest) pursuant to the optional redemption provisions of the indenture of the Senior Notes. The Board approved the redemption on August 22, 2006. The redemption date will be Wednesday, September 27, 2006.
Mothers Work is the world's largest designer and retailer of maternity apparel, using its custom TrendTrack merchandise analysis and planning system as well as its quick response replenishment process to "give the customer what she wants, when she wants it."
Mothers Work Inc
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