Enterprise Holdings buys back €9.2 million of its 7% bonds due 2017

By Wendy Van Sickle

Columbus, Ohio, Oct. 8 – Enterprise Holdings Ltd. repurchased €9,175,000 of its 7% corporate bonds due in September 2017 from an institutional investor this month, according to a press release.

Enterprise said this brings the balance of the bonds outstanding down to €19.5 million.

The bonds were issued on Sept. 26, 2012.

“We are very pleased that we have been able to take the chance to repurchase this substantial amount of our bond 2012/17,” Andrew Flowers, chief executive officer of Enterprise Holdings Ltd., said in the release. “The buyback is going to generate additional profit for Enterprise Holdings through lower future interest expenditures.”

Based in Munich, Enterprise Holdings is an owner-led insurance firm with its main markets in the United Kingdom, France, Greece and Italy.

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