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Globix buys back $5.6 million 11% notes
New York, Dec. 18 - Globix Corp. said that it paid $5.6 million to buy back some of its 11% senior notes on Oct. 3.
The repurchase brings buybacks through Oct. 3 to a total of $25 million of principal amount and accrued interest, according to a filing with the Securities and Exchange Commission. In total the New York provider of managed internet applications and infrastructure services paid $20.1 million.
Interest on the notes is payable in kind through 2004.
As previously announced, Globix will also be using the expected $60 million proceeds from selling its property at 415 Greenwich St., New York, to Heritage Partners to buy back more of the 11% notes as well as pay the third-party investor in the Greenwich Street property and for working capital.
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