London, United Kingdom and New York, United States
Pipe Acquisition Limited, the parent company of Edgen Murray Europe Limited, Edgen Murray FZE and Edgen Murray Pte, Ltd., announced that on May 11, 2007, its majority-owned subsidiary, Pipe Acquisition Finance Plc (the "Issuer" and, collectively, the "Company"), has called for redemption all of its outstanding senior secured floating rate notes (the "Notes") on the redemption date of June 11, 2007.
The redemption price is in an amount equal to 103% of the aggregate principal amount of the Notes being redeemed, plus accrued and unpaid interest, including as applicable, additional interest and additional amounts, thereon to the redemption date.
ABOUT PIPE ACQUISITION LIMITED
The Company is a leading global distributor and marketer of high performance steel products for use in specialized applications in the energy infrastructure market, primarily to the offshore oil and gas industry. The products the Company sells are generally highly engineered prime carbon pipe, pipe components and high grade structural sections and plates, which are designed to withstand the effects in extreme operating conditions. The Company, with its sister corporation, Edgen Murray Corporation, currently serves customers in more than 50 countries worldwide through 23 locations internationally, including 15 in the United States, two in Canada, three in Europe/West Africa, two in Asia/Pacific, and one in the Middle East. Additional information may be obtained from Edgen Murray's website at www.edgenmurray.com.
Forward-Looking Statements: This press release contains forward-looking statements. The forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve a number of risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied in the forward-looking statements. Important factors that could cause the statements made to differ include that the transactions are subject to a number of conditions and approvals. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Business Wire (Business Wire India)