Innofactor redeems €3.2 million 9% perpetual hybrid bond using cash

By Susanna Moon

Chicago, Feb. 29 – Innofactor Oyj said it redeemed a €3.2 million 9% hybrid bond.

The bond had no due date, but the company had the right to redeem it in February, according to a company announcement.

Innofactor plc issued the €3.2 million hybrid bond, or equity bond, on Dec. 17, 2013.

Innofactor said it “did not take a new bank loan to redeem the hybrid bond.”

The company has bank loans of about €11.3 million.

Innofactor plc, formerly Westend ICT Oyj, is an Espoo, Finland-based software developer.

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