24th Apr 2015 07:56
LONDON (Alliance News) - AA PLC Friday said a subsidiary has completed an optional redemption for all of the the GBP175.0 million 9.5%/10.25% senior payment in kind toggle notes due 2019.
"This redemption is in line with the AA's ambition to continuously explore opportunities to optimise the company's capital structure," AA said in a statement.
The news comes after a GBP200 million equity raising to redeem the notes.
AA shares were up 0.7% at 409.40 pence on Friday morning in London.
By Samuel Agini; [email protected]; @samuelagini
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