PS Group Redeems $99.9 Million of Its 12.5% Senior Notes

PS Group Inc. has redeemed the $99.9 million outstanding principal amount of the company’s 12.5% senior notes that were due in 1996, the company said Wednesday. The redemption date will be June 29.

PS Group will use proceeds of the sale of its Pacific Southwest Airlines holdings to fund the redemption. The company sold PSA to USAir Group last Friday.

San Diego-based PS Group, which will be moving from PSA’s Lindbergh Field headquarters building later this year, has aircraft leasing and energy sales and production subsidiaries.