ExpressJet announces $5 million bond redemption for 11.25% convertible secured notes

ExpressJet Holdings, parent company of regional and charter airline operator, ExpressJet Airlines, intends to redeem $5 million in principal of its 11.25% Convertible Secured Notes due 2023 on July 9, 2010. The redemption is part of ExpressJet’s previously announced securities repurchase program and the remaining balance on the notes will be $38.6 million. This balance represents the par value due to noteholders when the notes become due August 1, 2023. After this redemption, the remaining balance in ExpressJet’s securities repurchase program will be $16.6 million. The company expects any future purchases of securities under the securities repurchase program to be made periodically in the open market or in privately negotiated transactions.