Aurora Repurchases ~$34.3M Of Convertible Notes, Saving $1.9M In Annualized Interest Payments

Aurora Cannabis Inc. ACB ACB has repurchased an aggregate of approximately CA$46.6 million ($34.3 million) principal amount of its convertible senior notes at a total cost, including accrued interest, of CA$45.6 million ($33.6 million) in cash, saving CA$2.6 million ($1.9 million) in annualized interest payments. Following completion of this repurchase, Aurora will have approximately CA$103 million ($76 million) of notes outstanding.

The purpose of the transaction, which represents a repurchase of a portion of the notes at a 2.5% discount to par value, was to reduce the company's debt and annual cash interest costs. Aurora has repurchased an aggregate of approximately CA$366 million ($269 million) principal amount of its convertible senior notes since December 2021, resulting in annual cash interest savings of approximately CA$20 million ($15 million).

Benzinga's Cannabis Capital Conference Is Back

The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.

Photo by CRYSTALWEED cannabis on Unsplash