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Emulex buys back $153 million 0.25% convertibles
New York, Oct. 21 - Emulex Corp. said it bought back $153 million face amount of its 0.25% convertible subordinated notes due 2023 in the three months ended Sept. 26.
The Costa Mesa, Calif., storage networking company purchased the securities at a discount, resulting in a pre-tax gain of $13.1 million.
As of Sept. 26, Emulex had $375.37 million of convertibles outstanding.
The company has been buying back large amounts of its convertibles. It originally sold $345 million of its 1.75% convertibles in January 2002 and $517.5 million of the 0.25% convertibles in December 2003.
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