Etrion buys back €6.3 million of corporate bonds as investment

By Susanna Moon

Chicago, Oct. 23 – Etrion Corp. said it has purchased a nominal amount of about €6.3 million of its outstanding corporate bonds at par from some bondholders.

The bonds will be held by the company as an investment and will be reported accordingly in financial statements, according to a company announcement.

After the purchase, the company's annual interest cost will be reduced by 17% to €2.7 million, the release noted.

“I believe it is an excellent use of some of our current liquidity, while also leaving the company with ample cash to continue to execute on our business plan and be fully funded through 2018,” Marco Antonio Northland, Etrion's chief executive officer, said in the company’s press release.

Etrion is a Geneva-based independent solar power producer.

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