Hudson Bay Mining and Smelting plans to redeem its 9% debentures mat uring on June 15, 1991, and its 10.5% sinking fund debentures maturing on Dec 15, 1995. The redemptions will be made at 101% of the principal amount of the 9% debentures and 102.8% of the principal amount of the 10.5% sinking fund debentures. Accrued and unpaid interest will also be settled on the date of redemption.
Hudson Bay intends to complete the redemptions by Jan 30, 1987.
Ron Watts, vice-president finance and treasurer, says the redemptions will enable the company to eliminate all debenture indebtedness from its books and reduce interest expense.
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