Business & Finance
Business and Finance
Business and Finance 
Mon, June 7, 2010
Sun, June 6, 2010
Sat, June 5, 2010
Fri, June 4, 2010
ALJ Announces Refinance of KES Senior Credit Facility and Repurchase of KES Preferred Stock and ALJ Subordinated Debt at Discou
ASHLAND, Ky.--([ BUSINESS WIRE ])--Today, ALJ Regional Holdings, Inc. (Pink Sheets: ALJJ) (aALJa) announced that its operating subsidiary KES Acquisition Company (aKESa) has refinanced its senior credit facility and repurchased 6,564 shares of its 13% Series A Preferred Stock at a discount to par, generating future cash savings of approximately $4.6 million. Additionally, ALJ repurchased a portion of its outstanding subordinated debt at a discount to par, generating future cash savings of approximately $400,000. In total, these two transactions, generated over $5.0 million in future cash savings to ALJ, or approximately $0.10 per share.
"The continuing profitability of both KES and ALJ have allowed us once again to decrease the companya™s debt in a way that sends a strongly supportive message to our shareholders, our customers, our employees and to our suppliers."
According to John Scheel, ALJa™s Chief Executive Officer, aThe continuing profitability of both KES and ALJ have allowed us once again to decrease the companya™s debt in a way that sends a strongly supportive message to our shareholders, our customers, our employees and to our suppliers.a
For additional details regarding the terms of KESa™ new credit facility and the repurchase transactions, please see ALJa™s release posted at [ www.pinksheets.com ].
ALJ is the parent company of KES Acquisition Company dba Kentucky Electric Steel, the owner and operator of a steel mini-mill near Ashland, Kentucky.