AA Bond announces plans to buy back, tender for outstanding bonds

By Sarah Lizee

Olympia, Wash., Dec. 11 – AA Bond Co. Ltd. intends to buy back and/or tender for outstanding bonds with cash, according to a press release.

AA plc announced that positive operational momentum has continued into the second half of the year, and it expects trading EBITDA and free cash flow for the full year to be in line with market expectations.

In light of the continued positive performance, the issuer intends to use some of the cash generated to buy back and/or tender for outstanding bonds.

The company said it also intends to pursue a range of debt tenders, redemptions and issuances over the coming months.

The issuer, based in Basingstoke, England, is the United Kingdom's largest provider of roadside assistance service.

© 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.