361 Degrees Halves Debt with Partial Buyback
The Chinese sportswear company successfully completed its tender offer for about half of its remaining $266.1 million of 7.25% senior unsecured notes, leaving a balance of about $127.8 million. The most recent of several buybacks has allowed 361° to cut its total indebtedness considerably from $400 million, and reduced its interest burden. However, Standard & Poor’s maintained ... Log in to view full article.