Johnson Electric buys back $6.75 million more 1% convertibles

By Marisa Wong

Morgantown, W.Va., Nov. 8 – Johnson Electric Holdings Ltd. purchased an additional $6.75 million of its 1% convertible bonds due 2021 in the open market on Nov. 8, according to a notice.

The bonds were purchased for $7.29 million.

Following the latest buyback, $175 million of the original $200 million principal amount remains outstanding.

Johnson Electric is a Hong Kong-based provider of motion subsystems and motion components for automotive and industrial applications.

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