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Novae Group buys back £125,000 more of its 7% convertibles
By Susanna Moon
Chicago, Nov. 26 - Novae Group plc said it redeemed an additional £125,000 of its £50 million 7% convertible bonds due Dec. 15, 2008.
The company announced on Nov. 7 plans to redeem some or all of the notes.
Novae has redeemed the following amounts: £22,348,051 on Nov. 13; £6,799,500 on Nov. 14; £2,023,187 on Nov. 15; £420,200 on Nov. 21; and £23,340 on Nov. 23.
The company paid par plus accrued interest for the notes. Following the redemption, £18,260,722 of the bonds remains outstanding.
Novae is a London-based insurance business.
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