Invensys plans to buy back all remaining high-yield bonds

By Devika Patel

Knoxville, Tenn., Feb. 8 - Invensys plc announced it will redeem all of its remaining high-yield bonds on March 17.

The notes consist of $177.09 million of 9 7/8% senior notes due March 2011 and €345.15 million of 9 7/8% senior notes due March 2011.

The redemption price amounts to 104.938% of par, or about £360 million, at Dec. 31 exchange rates, and will be paid out of existing cash balances.

Invensys is a London-based automation, controls and process services company.

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