local

AGCO to redeem $250M in notes

DULUTH - Agricultural equipment maker AGCO Corp. said it will redeem its $250 million of 9.5 percent senior notes due 2008.

Duluth-based AGCO will redeem the senior notes on June 23. A premium of 12 cents per share will be reflected in AGCO's second quarter financial results, the company said. AGCO said the redemption will reduce future annual interest costs by 14 cents per share.

national

Existing home sales hit all-time highs

WASHINGTON - Existing homes were sold in April at the fastest pace in history as the nation's red-hot housing market just kept getting hotter.

The National Association of Realtors reported Tuesday that existing single-family homes and condominiums were sold at a seasonally adjusted rate of 7.18 million units last month, a gain of 4.5 percent from a revised March sales pace of 6.87 million units.

- From staff, wire reports