GrafTech exchanges $35 million notes, buys back $8 million

New York, May 10 - GrafTech International Ltd. said it exchanged $35 million principal amount of its 10¼% senior notes due 2012 for stock and bought back $8 million principal amount for cash during the first quarter.

The Wilmington, Del., manufacturer of graphite and carbon products said in a 10-Q filing with the Securities and Exchange Commission that it issued 3.16 million shares of stock for the $35 million of notes plus $1 million of accrued interest.

In the buyback, it paid $9 million in cash for $8 million of the notes plus accrued interest.

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