Kaiser Aluminum aims to restructure senior notes
NEW YORK, Jan 15 (Reuters) - Kaiser Aluminum Corp. (NYSE:KLU) on Tuesday said it would soon begin discussions about restructuring its senior notes, with its cash flow and earnings suffering at the hands of low aluminum prices.
Looking at its near-term debt maturities and overall capital structure, the company said it decided to hold talks ``within the next few weeks'' with its note holders about restructuring the notes.
The company's discussions will focus on its 9-7/8 percent Senior Notes of 2002, which have $174 million outstanding, the 10-7/8 percent Senior Notes of 2006, which have $225 million outstanding, and 12-3/4 percent Senior Subordinated Notes of 2003, which have $400 million outstanding.