Market Report -- In Play (ARG)

October 14, 2009 9:46 AM ET

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Stocks mentioned in this article: Airgas Inc (ARG) Stock Quote, Chart, News, Add to Watchlist
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Airgas completes redemption of all its $150 mln 6.25% Senior Subordinated Notes Co announced it has completed the previously announced redemption of all its $150 mln 6.25% Senior Subordinated Notes that were due July 15, 2014, at a price of 103.125%. A loss on the early extinguishment of debt of ~$6 mln ($4 mln after tax, or $0.05 per diluted share) will be recognized related to the redemption premium and the write-off of unamortized debt issuance costs. The loss will be reflected in Q3. During the Q2, Airgas repurchased $58 mln of its $400 mln 7.125% Senior Subordinated Notes that are due on October 1, 2018, at an average price of 102.2%. A loss on the early extinguishment of debt of ~$2 mln ($1.3 mln after tax, or $0.02 per diluted share) will be recognized related to the redemption premium and the write-off of unamortized debt issuance costs. The loss will be reflected in Q2. Also expected in Q2 is a charge of ~$1.7 mln ($1.0 mln after tax, or $0.01 per diluted share) related to withdrawal from a multi-employer pension plan. These amounts were not included in the previously issued Q2 earnings guidance of $0.64-0.69 per diluted share.

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