The AA plans bond buy-backs, future issuance
The AA, the UK car breakdown cover and associated services company, is seeking to buy back some of its bonds, in one of several tender offers syndicate bankers say are in the works.
The AA, rated BBB- by S&P, has five bonds outstanding.It intends to use some of the cash it has generated through “continued positive performance”, the company said, to buy back or holder a tender offer for some of its bonds, possibly imminently.
There is unlikely to be a new ...
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