CEVA Group subsidiary buys back €8 million 10% notes due 2016

By Susanna Moon

Chicago, Nov. 7 - CEVA Group, plc said a subsidiary purchased about €8 million principal amount of its €225 million 10% senior subordinated notes due 2016 on Nov. 6.

Members of the group have acquired €35 million face value, or 16%, of the notes, according to a press release. They may purchase additional notes or other debt of the company or CEVA Investments, Ltd. from time to time.

CEVA said on Nov. 4 that funds managed by Apollo Global Management, LLC affiliates acquired €27.28 million of the company's 10% notes and €186.63 million of its floating-rate debt due 2017. The amount of notes acquired represents 12% of the €225 million 10% notes and 56% of the €275 million floaters, according to company notices filed with the Irish Stock Exchange.

Ashby de la Zouch, United Kingdom-based CEVA Group is an Apollo Management portfolio company.

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