Invacare Corporation Retires Most of Its Remaining 2021 Convertible Notes
Invacare Corporation (IVC)
Last invacare corporation earnings: 2/10 06:00 am
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invacare.com/cgi-bin/imhqprd/investor-relations.jsp
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Source: Business Wire
ELYRIA, Ohio--(BUSINESS WIRE)--Invacare Corporation (NYSE: IVC) announced today it has retired the majority of its remaining 5% Convertible Senior Notes due 2021. The company repurchased approximately $22.0 million aggregate principal amount of the 2021 convertible notes for cash in separate open market transactions, leaving a balance of approximately $3.8 million aggregate principal amount of 2021 convertible notes outstanding.“I’m pleased we were able to retire the significant majority our remaining 2021 convertible notes in advance of their February maturity. By opportunistically repurchasing the notes, including some at slightly below par, we continue to set the foundation for long-term profitable growth with a stronger and more flexible balance sheet and by reducing ongoing interest expense,” said Matt Monaghan, chairman, president and chief executive officer. “Our patient and deliberate approach to addressing our near-term debt obligations allows us to reallocate capital int
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