Johnson Electric buys back more 1% convertible bonds due 2021

By Marisa Wong

Morgantown, W.Va., Sept. 4 – Johnson Electric Holdings Ltd. purchased an additional $500,000 of its 1% convertible bonds due 2021 in the open market on Sept. 3, according to a notice.

The bonds were purchased for $540,000.

As previously reported, the company purchased $9.75 million of the bonds on Aug. 3 for $10.53 million and another $5 million on Aug. 8 for $5.4 million.

Johnson Electric is a Hong Kong-based provider of motion subsystems and motion components for automotive and industrial applications. The company issued $200 million of the 1% convertible bonds in March 2014.

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