CINCINNATI -- U.S. Shoe Corp. will redeem its $50 million outstanding 8 percent notes with cash on June 30.

K. Brent Somers, executive vice president and chief financial officer, said the company's improving financial performance allowed for the prepayment, which will reduce interest expense and debt.

After the payment, U.S. Shoe will have $140 million outstanding debt, including capital lease obligations. At the end of first quarter, the company had $210 million in cash.

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