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Prospect News home > News index > List of issuers Tenders > Headlines for 2019 > News item
Published on 2/21/2019 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

AA to buy back up to £20 million of 5½% class B2 notes due 2043

By Marisa Wong

Morgantown, W.Va., Feb. 21 – AA plc announced it plans to purchase 5½% class B2 secured notes due 2043 issued by subsidiary AA Bond Co. Ltd.

The company launched an up to £20 million bond purchase program on Thursday to purchase the 5½% notes through open market purchases or private transactions, according to a notice.

The purchase period began at 5 a.m. ET on Feb. 21 and ends at 10 a.m. ET on Feb. 27.

The buybacks will be managed by Peel Hunt LLP.

AA is a Basingstoke, England-based company that provides roadside assistance.


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