Meritor buys back $4 million 4% convertibles due 2027 in Q3

By Susanna Moon

Chicago, July 29 – Meritor, Inc. said it repurchased $4 million of its 4% convertible notes due 2027 in the quarter ended June 30.

By the end of June, the company had repurchased $49 million of equity and equity-linked notes and was “on track to complete the program by the end of fiscal 2016,” according to an earnings release for the third fiscal quarter ended June 30.

Meritor is a Troy, Mich.-based auto components manufacturer.

© 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.