Ikon to redeem $100M worth of notes

Ikon Office Solutions, the Malvern document management company, will redeem for cash the remaining $100 million of its $150 million of senior unsecured floating rate notes due 2012.

The first $50 million were redeemed earlier in May.

As a result of the redemptions, Ikon will incur a $5.7 million loss from the early extinguishment of debt in its fiscal third quarter, which ends June 30.