Platinum’s Club Car Bonds Gain on Outlook, Bond Repurchase

Platinum Equity-backed golf cart manufacturer Club Car disclosed Monday that it bought back bonds in the secondary market and subsequently retired the debt, leading its lone bond to trade higher, according to people with knowledge of the matter

• The firm’s note due in 2029 rose by 4.75 cents on the dollar to 76.5 cents on Monday, according to pricing source Trace
• Club Car spent $10 million to repurchase around $13 million of the notes in April, said the people with knowledge of the situation, who asked not to be identified discussing a private matter
  • The disclosure was made during ...