Playtex repurchases $120.8 million of 8% notes in 2005, $34.7 million of notes year to date

By Angela McDaniels

Seattle, Feb. 6 - Playtex Products Inc. repurchased $120.8 million of its 8% notes due 2011 during 2005 and has already bought back $34.7 million of its notes so far this year, according to a company news release.

The company did not disclose which bonds it has bought back in 2006 to date.

For 2006 as a whole, Playtex has set a goal of buying $100 million of its bonds.

Repurchases will be made on the open market and the company said it may also call some of its 9 3/8% notes, which can be redeemed starting in June.

The note repurchases are part of the Playtex's deleveraging program, which decreased interest expenses by $5.2 million for the full year 2005 versus 2004, the company said. Buybacks in 2005 will result in a further $5 million reduction in 2006.

Playtex is a Westport, Conn., personal care and consumer products company.

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