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Prospect News home > News index > List of issuers T > Headlines for Tenders 2007 > News item
Published on 11/13/2007 in the Prospect News Convertibles Daily.

Novae Group redeems £22.35 million of its 7% convertibles

By Devika Patel

Knoxville, Tenn., Nov. 13 - Novae Group plc announced it has redeemed £22.35 million of its £50 million outstanding 7% convertible bonds due Dec. 15, 2008.

The company announced its plans to redeem some or all of the notes on Nov. 7.

The notes were purchased at par plus accrued interest. Following this redemption, Novae has £27.65 million of the bonds outstanding.

Novae is a London-based risk-taking insurance business.


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