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Eagle Food repurchases further $2.4 million senior notes
New York, Dec. 19 - Eagle Food Centers, Inc. said it repurchased a further $2.4 million of its senior notes during the third quarter of fiscal 2001, bringing the buybacks to $4.2 million for the first nine months of the fiscal year.
The cost of the most recent purchases was $1.4 million, according to information in filings with the Securities and Exchange Commission. Total spending on repurchases so far this fiscal year is $2.5 million.
The Milan, Ill. company funded the note buybacks with borrowings from its revolving credit facility. As of Nov. 3, the end of the fiscal third quarter, Eagle Food had $23.3 million outstanding on the revolver, which is $50 million in size and matures Aug. 24, 2004.
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