Aurora Cannabis buys back C$46.6 million of convertible notes

By Wendy Van Sickle

Columbus, Ohio, March 30 – Aurora Cannabis Inc. announced it has repurchased C$46.6 million principal amount of its convertible senior notes.

The purchase price of the notes was C$45.6 million, including accrued interest, representing a 2.5% discount to par value.

Following completion of this repurchase, approximately C$103 million of the notes are outstanding.

The purpose of the buyback was to reduce the company’s debt and annual cash interest costs, according to a company press release on Thursday. Annual cash interest savings now total C$20 million.

Aurora is a cannabis company based in Edmonton, Alta.

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