Penske repurchased $44.1 million 3.5% convertibles in first quarter

By Jennifer Chiou

New York, Feb. 19 - Penske Automotive Group Inc. announced the repurchase of $44.1 million of its 3.5% senior subordinated convertible notes due 2026 during the first quarter of 2010.

Penske said it paid $44.4 million in cash for the convertibles, leaving about $262 million of the securities outstanding.

The company noted that it did not repurchase any securities during the fourth quarter of 2009.

Penske is a Bloomfield Hills, Mich.-based automotive retailer.

© 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.