Aurora Cannabis repurchases CA$103 million worth of debt

Canadian marijuana company Aurora Cannabis is continuing its debt-reduction quest, repurchasing roughly 103 million Canadian dollars ($76.1 million) worth of convertible notes.

The debt repurchase, which cost the company CA$99.4 million in cash, leaves Aurora with about CA$148 million worth of notes outstanding.

ADVERTISEMENT

“The purpose of the transaction … was to reduce the company’s debt and annual cash interest costs,” Aurora noted in a Monday news release.

It is Aurora’s fourth debt repurchase of 2022, a company spokesperson told MJBizDaily.

Aurora said it has now repurchased roughly CA$316.5 million worth of its convertible senior notes in the past year, “resulting in annual cash interest savings of approximately CA$17.4 million.”

Alberta-based Aurora reported a CA$51.9 million net loss in its most recent quarter.

At the time, the company reported CA$393 million in cash on its balance sheet.

ADVERTISEMENT

Aurora reiterated on Monday

The post Aurora Cannabis repurchases CA$103 million worth of debt appeared first on GrowCola.com.

Canadian marijuana company Aurora Cannabis is continuing its debt-reduction quest, repurchasing roughly 103 million Canadian dollars ($76.1 million) worth of… Continue reading
The post Aurora Cannabis repurchases CA$103 million worth of debt appeared first on GrowCola.com. 

Leave a Reply

Your email address will not be published. Required fields are marked *

× Whatsapp