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AAC repurchases, cancels $32.3 million notes due 2026, 2031
By William Gullotti
Buffalo, N.Y., Oct. 5 – Hong Kong’s AAC Technologies Holdings Inc. reported repurchasing and canceling approximately $32.3 million of notes from two series issued in tandem on June 2, 2021, according to an announcement on Thursday.
The company repurchased $9.35 million of its 2 5/8% notes maturing in 2026, representing 3.12% of the initial $300 million issued.
To date, AAC has repurchased and canceled $68,746,000, or 22.92%, of the original issue, leaving $231,254,000 of the series outstanding.
It also bought back $22.95 million of its 3¾% notes due 2031, representing 6.56% of the initial $350 million issued.
AAC has repurchased and canceled $57,877,000 to date, representing 16.54% of the original issue. $292,123,000 remains outstanding.
The series of buybacks took place between Sept. 28 and Oct. 4 on the open market and were subsequently canceled.
The company is a Hong Kong-based supplier of products to leading mobile phone and consumer electronics makers.
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