Wireco completes senior notes offering

Wire rope manufacturer Wireco has announced the completion of its previously announced private offering of $275m (£192m) aggregate principal amount of 9.5 per cent senior notes, due 2017.

Wireco intends to use a portion of the proceeds of the offering to redeem all of its outstanding 11 per cent senior notes, due 2015.

The remainder of the proceeds will be used for general corporate purposes and to pay the fees and expenses associated with the offering.