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Prospect News home > News index > List of issuers T > Headlines for Tenders 2008 > News item
Published on 12/3/2008 in the Prospect News High Yield Daily.

Novae agrees to buy back £7.55 million 8 3/8% notes at discount

By Jennifer Chiou

New York, Dec. 3 - Novae Group plc said it agreed to purchase £7.55 million of its 8 3/8% subordinated notes at 66.84% of par, excluding accrued interest.

The company said that after the repurchase, £92.45 million of the notes will remain outstanding.

The company issued the notes on April 27, 2007.

Novae is a London-based risk-taking insurance business.


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