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Alberto-Culver

This article was originally published in The Rose Sheet

Executive Summary

Company completes buyback of $200 mil. of 8.25% senior notes due Nov. 1, 2005, Alberto-Culver announces Sept. 15. Redemption will result in $12.6 mil. pre-tax charge in the fourth quarter and will lower net interest expense by approximately $14.3 mil. over remaining original term of the notes, Alberto says. Company likely will use interest expense savings to boost advertising, marketing and other investment to support global brands and businesses, firm notes. Alberto President and CEO Howard Bernick announced plans to increase firm's advertising efforts earlier this month (1"The Rose Sheet" Sept. 13, 2004, In Brief)...
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