Acuity Brands finishes $175.7 million tender offer for notes due next yearBy AP
Thursday, December 10, 2009
Acuity Brands completes $175.7M debt tender offer
ATLANTA — Lighting fixture maker Acuity Brands Inc. said Thursday it completed a cash tender offer for notes due in 2010, reducing its interest costs.
About $175.7 million in notes were tendered, representing about 88 percent of the $200 million in notes that it had been willing to buy back. J.P. Morgan Securities Inc. and Banc of America Securities LLC served as the dealer managers for the tender offer.
Acuity shares fell 2 cents to $33.90 during afternoon trading.