TORONTO, June 13, 2012 /CNW/ - General Donlee Canada Inc. ("General
Donlee" or the "Company") (TSX: GDI) today announced that it has
completed the previously announced partial redemption of its 7%
convertible unsecured subordinated debentures maturing June 30, 2014
(the "Debentures") for an aggregate principal amount of $20,000,000.
The Company paid to the holders of redeemed Debentures a redemption
price (the "Redemption Price") equal to the principal amount of
redeemed Debentures, plus accrued and unpaid interest up to but
excluding the redemption date, for a total of $1,031.45 per $1,000
principal amount of Debentures. Debentures in an aggregate principal
amount of $24,994,000 remain outstanding following the redemption. The
Company used its new term credit facility to pay the Redemption Price
of the redeemed Debentures.
About General Donlee Canada Inc.
General Donlee Canada Inc. is a leading diversified manufacturer of
precision-machined products for the military, commercial and general
aerospace industries, and a specialist in the manufacture of
precision-machined products for the industrial products and power
generation industries. General Donlee's operating strategy focuses on
targeting niche markets for products that are aligned with its
sophisticated manufacturing capabilities and skilled workforce.
SOURCE General Donlee Canada Inc.
For further information:
President & Chief Executive Officer
Interim Chief Financial Officer
Telephone: (416) 743-4417
Web site: www.generaldonlee.com