361 Degrees repurchases more 4.5% convertible bonds due 2017

By Marisa Wong

Madison, Wis., March 25 - 361 Degrees International Ltd. said it repurchased $1.2 million, or 0.88%, of its $135.7 million outstanding 4.5% convertible bonds due April 3, 2017 through an over-the-counter purchase on March 18.

All of the repurchased bonds were canceled on Tuesday.

There is now $134.5 million principal amount of the bonds outstanding.

The company originally issued $150 million of the convertibles in March 2012 and repurchased $14.3 million of the bonds through similar over-the-counter purchases in January and February.

361 Degrees is a sportswear company based in Xiamen City, China.

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