Vulcan Infrastructure and Power to redeem remaining debt due 2026 on Oct. 13
VIP•Vulcan Infrastructure and Power will redeem $30.35 million of its 8.50% senior notes due 2026 on Oct. 13, 2026, with an expected cash outlay of about $30.9 million. Separately, it exchanged $2.79 million of those notes for $2.83 million of 10.00% notes due 2030 and warrants to buy 1 million Class A shares.
1. Notes redemption
Vulcan Infrastructure and Power delivered notice to redeem all outstanding 8.50% senior notes due 2026 on Oct. 13, 2026. The redemption price is 100% of principal, plus accrued and unpaid interest through Oct. 12. The $30.35 million of principal outstanding is expected to require a cash outlay of about $30.9 million, including about $523,000 in interest.
2. Separate exchange
Vulcan separately exchanged $2.79 million of the 2026 notes for $2.83 million of 10.00% senior notes due 2030. The exchange also included warrants to buy 1 million Class A shares at an exercise price of $1.87 per share.
