Guess? announces early redemption of 6.75% secured notes due 2012

06 Dec '06
1 min read

Guess? Inc announced that its wholly-owned subsidiary, Guess? Royalty Finance LLC has elected to redeem all of its outstanding 6.75% secured notes due 2012. The total redemption payment of approximately $33.0 million, including principal, accrued and unpaid interest and a redemption premium, will be paid in cash on December 20, 2006.

Commenting on the announcement, Carlos Alberini, President and Chief Operating Officer, stated, "We are pleased to announce our decision to redeem the remaining 6.75% secured notes prior to their maturity.

Our operational cash flow continues to be strong and has enabled us to pay down our debt and accumulate cash, further strengthening our balance sheet and giving us greater financial flexibility. After this redemption, our North American business will be debt-free."

Guess? Inc

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