AX Group buys back €1.09m of 2026 bonds as buy-back nears halfway

AX Group has moved another step closer to trimming its debt load, confirming the repurchase of €1.091 million in nominal value of its 3.25% unsecured bonds due 2026. The bonds were bought at par, €100 each, according to a company announcement dated 24 September 2026.

The purchases fall under the buy-back programme launched on 13 August 2026, which authorises AX Group to repurchase up to €2.5 million in nominal value of the securities. With the latest cumulative figure as at 18 September 2026, the group has now used roughly 43.7% of that ceiling.

All bonds acquired under the programme will be cancelled rather than reissued or resold. That means each repurchase permanently reduces the amount of the 2026 bond still in issue, a detail that matters to bondholders watching the security's outstanding size.

The programme remains open until the full €2.5 million has been repurchased or 30 November 2026, whichever comes first. AX Group has said it will keep the market updated when significant volumes are repurchased and cancelled.

Bondholders considering whether to participate have been advised to seek independent financial advice. The company also published contact details for bondholders and their advisers, underlining the voluntary nature of the offer.

Notably, the latest announcement does not alter the programme's €2.5 million ceiling, the €100 repurchase price, or the closing date. For investors, the steady pace of buy-backs signals a deliberate approach to managing the group's debt maturity profile ahead of the 2026 bond's due date.

With the buy-back now approaching the halfway mark of its authorised amount, the market will be watching whether AX Group follows through on the remaining €1.4 million before the programme expires. Each cancellation tightens the outstanding supply of the bond, a dynamic that can influence secondary market pricing.