Morgans Hotel repurchases $88 million 2.375% convertibles due 2014

By Tali Rackner

Minneapolis, March 3 - Morgans Hotel Group Co. entered into an agreement with Yucaipa Cos. LLC on Feb. 28 to repurchase $88 million of its 2.375% senior subordinated convertible notes due 2014 from the Yucaipa affiliates, according to an 8-K filing with the Securities and Exchange Commission.

The notes were redeemed at par plus accrued interest on Feb. 28.

The remaining amount outstanding under the convertibles was reduced to $84.5 million.

Morgans is a New York hospitality company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.