| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Tenders 2008 > News item |
Novae buys back £2.6 million more of its 7% convertibles
By Susanna Moon
Chicago, March 17 - Novae Group plc said it repurchased an additional £2,598,056 of its 7% convertible bonds due Dec. 15, 2008.
The company bought back the convertibles on March 14 after announcing plans to repurchase some or all of the remaining £50 million of bonds for cancellation.
Following the repurchase, £7,964,666 of the bonds remain outstanding. As of Dec. 31, the company had redeemed £39,437,278 of the convertibles.
The company said it paid par plus accrued interest for the notes.
Novae announced its plans to buy back the notes on Nov. 7. The company 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; £23,340 on Nov. 23; £125,000 on Nov. 26; and £6.22 million on Dec. 3.
Novae is a London-based insurance business.
© 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.