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Prospect News home > News index > List of issuers T > Headlines for Tenders 2012 > News item |
Novae Group agrees to repurchase £200,000 of 8 3/8% notes due 2017
By Ashley Montgomery
Kansas City, Kan., Aug. 14 - Novae Group plc plans to repurchase £200,000 of its 8 3/8% callable fixed-to-floating-rate subordinated notes due April 27, 2017, according to a notice.
The notes will be repurchased at 85p per £1 nominal value plus accrued interest. They will then be canceled.
Following the repurchase, £2.6 million of the notes will remain outstanding.
Novae is a London-based risk-taking insurance business.
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