Emeco Holdings purchases $52.3 million of its bonds due 2019

By Wendy Van Sickle

Columbus, Ohio, Dec. 14 – Emeco Holdings Ltd. purchased $52.3 million of its bonds due 2019 in the market, according to a news release.

Following the purchase, $282.7 million of the bonds remain outstanding.

The transaction was funded by the partial closure of the company’s cross currency interest rate swap facilities, which released $34.2 million of value held in the mark to market position of the facilities.

Emeco said it expected the bond purchases to save the company $5.2 million a year in finance costs.

The provider of equipment solutions to the global mining industry is based in Perth, Australia.

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