Headwaters Incorporated Announces Repurchase of $5.0 Million of Its 2.50% Convertible Subordinated Notes

HEADWATERS INCORPORATED HW today announced that as of June 30, 2012, it has repurchased and canceled $5.0 million in aggregate principal amount of its 2.50% Convertible Subordinated Notes due 2014 for consideration of approximately $4.7 million, including accrued interest through the purchase date of approximately $0.05 million, pursuant to an open market transaction. After the closing of the note purchase, Headwaters has $58.6 million in aggregate principal amount of its 2.50% Notes remaining. "With this repurchase we have reduced approximately $34.7 million of face value of our debt this fiscal year, eliminating over $3.7 million in annual cash interest expense," stated Don P. Newman, Headwaters' Chief Financial Officer. "Headwaters continues its focus on improving cash flows and reducing its debt.”