Universal Power Group (NYSE AMEX:UPG)

Universal Power Group Announces Early Repayment of Notes

“The early repayment of our Zunicom notes marks another important and positive step in the growth of UPG,” said Ian Edmonds, UPG’s President and Chief Executive Officer. “With the retirement of this debt, we will receive approximately $300,000 in benefit through the negotiated principal discount we were able to secure. Also as a result, we will significantly reduce our annual interest costs and eliminate nearly $1.5 million in principal payments annually.”  

Source: Business Wire (December 22, 2009)