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361 Degrees buys back $10.3 million more 4.5% convertibles due 2017
By Marisa Wong
Madison, Wis., Feb. 18 - 361 Degrees International Ltd. said it repurchased a total of $10.3 million, or 7.05%, of its $146 million outstanding 4.5% convertible bonds due April 3, 2017 through over-the-counter purchases on Jan. 29, Feb. 4, Feb. 7, Feb. 10 and Feb. 12.
Settlement of the buybacks occurred on Feb. 3, Feb. 7, Feb. 10, Feb. 13 and Feb. 18, respectively, and all of the repurchased bonds were canceled on Tuesday.
There is now $135.7 million principal amount of the bonds outstanding.
The company originally issued $150 million of the convertibles in March 2012 and repurchased $4 million of the bonds through similar over-the-counter purchases in January.
361 Degrees is a sportswear company based in Xiamen City, China.
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