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National Vision to buy back $100 million of 2.5% convertibles
By Marisa Wong
Los Angeles, Nov. 10 – National Vision Holdings, Inc. said it entered into agreements with some of the holders of its 2.5% convertible senior notes due 2025 to repurchase $100 million aggregate principal amount of the notes for an aggregate cash repurchase price of $99.25 million.
“We are pleased to be in a position to complete this opportunistic repurchase reducing our 2025 notes outstanding and further strengthening our balance sheet while leveraging our robust cash position,” chief financial officer Melissa Rasmussen commented in a press release.
The transactions are expected to close on Nov. 14, subject to the satisfaction of customary closing conditions. After closing, $302.5 million principal amount of the 2025 notes will remain outstanding, from an initial issued principal balance of $402.5 million.
National Vision is an optical retail company based in Duluth, Ga.
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