IOU Financial repurchases $600,000 of convertible debentures

By Wendy Van Sickle

Columbus, Ohio, June 9 – IOU Financial Inc. is repurchasing about $600,000 of its convertible debentures due Dec. 31, 2023 at par, according to a news release on Thursday.

The transactions are being carried out under repurchase agreements the company entered into with individual debenture holders.

The latest repurchases brings total IOU repurchases of the debentures year to date to $2 million and reduces the outstanding principal amount to about $6 million.

The Montreal company is an online lender for small businesses in the United States.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.