Le Noble Age buys back 33.97% of Ornanes due 2016 at €22.25 each

By Wendy Van Sickle

Columbus, Ohio, Oct. 5 – Le Noble Age SA said it bought back 427,680 more of its convertible bonds due Jan. 3, 2016 in the Ornane structure as part of a repurchase offer in France.

The company paid €22.25 including accrued interest for each unit, according to a company announcement.

Settlement is scheduled for Oct. 7.

The buyback covers 33.97% of the outstanding Ornanes and leaves 107,641, or 3.92% of the amount originally issued, still outstanding.

The company held the repurchase offer from Sept. 28 to Oct. 2 to ensure equal treatment of all holders of the securities following a reverse bookbuilding under which it bought back 722,950 of the Ornanes on Sept. 25.

Le Noble Age is a Vertou, France-based company that owns and operates retirement homes and complexes for elderly residents.

© 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.