Michelin buys back €500 million of subordinated notes due 2033

By Toni Weeks

San Diego, Sept. 27 - Compagnie Generale des Etablissements Michelin repurchased €500 million of its lowest-ranking subordinated notes due Dec. 3, 2033 on Sept. 21, according to a press release.

The total amount repurchased represents more than 10% of the issued amount of the notes.

Following the repurchases, €140,628,000 principal amount of the notes remains outstanding.

Michelin is a Clermont-Ferrand, France-based tire maker.

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