Sunpower Group (SGX:5GD) redeemed $54 million of its existing bonds, reducing the outstanding principal to $83.6 million, according to a Thursday filing on the Singapore Exchange.
The partial redemption is part of the company's debt reduction strategy ahead of a proposed SG$99.6 million rights issue. Further redemptions are planned before the completion of the rights issue.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.