Sunpower Group (SGX:5GD) has completed the second tranche of its bond redemption, paying $13.8 million to bondholders on Feb. 10, according to a Tuesday filing on the Singapore Exchange.
The move reduces the remaining outstanding principal of its existing bonds to $71.9 million. The redemption follows a $54 million first tranche buyback in January as part of Sunpower's plan to retire debt before completing its rights issue.
The company, incorporated in Bermuda, is repurchasing the bonds in tranches under an alternative redemption agreement with investors, including Glory Sky Vision and Blue Starry Energy.
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