Invacare Corporation Announces Private Exchange to Retire Approximately $72.9 Million Principal Amount of Its 5.0% Convertible Senior Notes Due 2021
Invacare Corporation (IVC)
Last invacare corporation earnings: 2/10 06:00 am
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US:NYSE Investor Relations:
invacare.com/cgi-bin/imhqprd/investor-relations.jsp
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Source: Business Wire
ELYRIA, Ohio--(BUSINESS WIRE)--Invacare Corporation (NYSE:IVC) (the “Company”) yesterday entered into separate, privately negotiated agreements with certain holders of its 5.0% Convertible Senior Notes due 2021 (the “2021 Notes”) to exchange $72.9 million in aggregate principal amount of 2021 Notes, for aggregate consideration of $72.9 million in aggregate principal amount of new 5.0% Convertible Senior Exchange Notes due 2024 (the “New Notes”) and approximately $6.9 million in cash. Following the closing of these transactions, $61.1 million in aggregate principal amount of the 2021 Notes will remain outstanding with terms unchanged. The exchange is expected to close on November 19, 2019, subject to customary closing conditions.The New Notes will bear interest at a rate of 5.0% per year payable semi-annually in arrears on May 15 and November 15 of each year, beginning May 15, 2020. Interest on the New Notes will accrue from August 15, 2019. The New Notes will mature on November 15
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