Invacare exchanges 4.25% convertibles for new 5.68% convertibles

By Wendy Van Sickle

Columbus, Ohio, Oct. 3 – Invacare Corp. settled the exchange of $13,825,000 of its 4.25% convertible senior notes due 2026, according to a news release.

The convertibles were exchanged for $5,186,000 of additional 5.68% convertible notes due 2026, tranche I, and $5,183,000 of additional 5.68% convertible notes due 2026, tranche II.

The exchange was funded by $31.1 million of newly issued 5.68% convertible senior secured notes due July 1, 2026, 2.7 million common shares of Invacare stock and $4.5 million in cash. The company also paid accrued interest in cash.

The exchanges are the result of private agreements.

Invacare is an Elyria, Ohio-based medical equipment manufacturer.

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