ACE Aviation calls in full its remaining 4.25% convertible notes

By Jennifer Chiou

New York, Nov. 6 - ACE Aviation Holdings Inc. announced the full redemption of its remaining C$64 million of 4.25% convertible senior notes due 2035.

In its report for the third quarter of 2009, the company said that its board, over the past few months, has continued to consider alternatives to maximize the return to shareholders and thus authorized the redemption for cash of the convertible senior notes.

The notes will be repurchased by Dec. 14.

In other news, ACE said it intends, subject to regulatory compliance, to launch a substantial issuer bid to repurchase C$20 million of its shares.

ACE is a Montreal-based holding company of aviation interests, including Air Canada and ACTS.

© 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.