"Repurchase by BBI Networks (New Zealand) Limited of Secured Bonds
Further to the announcement dated 25 March 2009, BBI Networks (New Zealand) Limited (BBINNZ) (NZX:BBN) has purchased on 2 April 2009 senior ranking secured bonds issued by BBINNZ on 30 November 2006 (Secured Bonds) (NZX:BBN020) totalling a face value of NZD516,000. Details are as follows:
- Percentage of the total Class of Securities acquired: 0.344%
- The reason for the acquisition of Secured Bonds: Repayment of BBI corporate debt on a pro rata basis."
They did originally announce they had $1.6M for this buyback, so I am assuming they will be back for more today. There is a range of sellers building up close to yesterday's price that I suspect they will mop up on the close.
BBI Price at posting:
6.8¢ Sentiment: None Disclosure: Held