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Varex Announces Partial Redemption of Senior Secured Notes
SALT LAKE CITY--(BUSINESS WIRE)-- Varex Imaging Corporation (Nasdaq: VREX) today announced the partial redemption of $27 million of its 7.875% senior secured
About this update from Varex Imaging Corporation
[{"type":"text","content":" SALT LAKE CITY--(BUSINESS WIRE)--\nVarex Imaging Corporation (Nasdaq: VREX) today announced the partial redemption of $27 million of its 7.875% senior secured notes due 2027, which represents 10% of the outstanding principal amount of the notes. The redemption price of the redeemed notes will be 103.0% of the principal amount thereof, plus accrued and unpaid interest from and including October 15, 2021, to but excluding the redemption date of March 18, 2022. Upon completion of the partial redemption, the remaining outstanding aggregate principal amount of the senior secured notes will be $243 million.\n\n“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 $2.1 million,” said Sam Maheshwari, Chief Financial Officer of Varex Imaging Corporation.\n\nAbout Varex\n\nVarex Imaging Corporation is a leading innovator, designer and manufacturer of X-ray imaging components, which include X-ray tubes, digital detectors and other image processing solutions that are key components of X-ray imaging systems. With a 70+ year history of successful innovation, Varex’s products are used in medical imaging as well as in industrial and security imaging applications. Global OEM manufacturers incorporate Varex’s X-ray sources, digital detectors, connecting devices and imaging software in their systems to detect, diagnose, protect and inspect. Headquartered in Salt Lake City, Utah, Varex employs approximately 2,100 people located in North America, Europe and Asia. For more information visit vareximaging.com.\n\nForward-Looking Statements\n\nThis news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements concerning the announced partial note redemption; and any statements using the terms “believe,” “expect,” “intend,” “future,” “anticipate,” “will,” “could,” or similar statements are forward-looking statements that involve risks and uncertainties that could cause Varex’s actual results to differ materially from those anticipated. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet ou...