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Gold/Mining/Energy : Chart Industries (GTLS)

GTLS 199.72

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3:59 PM EDT

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From: JakeStraw	6/18/2007 8:33:02 AM
	of 19

Chart Industries Reports $40 Million Prepayment of Debt biz.yahoo.com Monday June 18, 6:00 am ET CLEVELAND, June 18 /PRNewswire-FirstCall/ -- Chart Industries, Inc. (Nasdaq: GTLS), a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases, today reported that it has prepaid $40 million of long-term senior secured debt. The Company received $38.3 million of proceeds from the sale of shares of common stock to cover over-allotments as part of its secondary stock offering completed on June 12, 2007. The proceeds, along with existing available cash, were used to prepay the Company's variable-rate senior secured long-term debt, reducing the Company's total long-term debt to $250 million. No penalties were incurred as a result of this prepayment and the Company expects to save almost $3.0 million in interest payments annually based on current rates.

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