ExpressJet repurchases $6.8 million in 11.25% convertibles due 2023

By Devika Patel

Knoxville, Tenn., Nov. 4 - ExpressJet Holdings, Inc. spent approximately $5.8 million under its securities repurchase program to buy back $6.8 million of its 11.25% secured convertible notes due 2023 in August, according to a company earnings report.

After this repurchase, $52.1 million of the notes remain outstanding.

There is approximately $9.7 million remaining in the repurchase program following the buybacks. The company authorized an additional $10 million for the program in August. It expects to make future purchases of the notes or stock from time to time in the open market or in privately negotiated transactions.

Houston-based ExpressJet operates as a regional airline under the name Continental Express.

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