French video game company Ubisoft on Wednesday called off its planned 500 million euro debt buyback citing bad market conditions.
"Given the current market conditions, Ubisoft has taken the decision to withdraw its proposed tender offer on its outstanding 500,000,000 euro 1.289 per cent existing bonds due 30 January 2023," the company said in a statement. Ubisoft earlier this month announced its plan to buy back the bonds and issue new ones in an effort to restructure its debt.
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