British music group EMI Group Plc said on Tuesday that 93% of its 425 million euros ($579.1 million) of 8.625% bonds due 2013 had been tendered under a buyback offer launched on Aug. 17.

EMI is buying back its outstanding bonds due to its acquisition by private equity firm Terra Firma, which was declared unconditional in August.

The price at which the bonds will be bought back will be set at 1300 GMT on Tuesday, the company said in a statement. Citigroup is dealer manager.