Hutchinson buys back $4.5 million 2.25% convertibles in first quarter

By Susanna Moon

Chicago, Jan. 11 - Hutchinson Technology Inc. said it repurchased $4.5 million par value of its 2.25% convertible subordinated notes due March 2010 in the fiscal first quarter ended Dec. 27.

The repurchase leaves a balance due of $41.1 million.

Hutchison bought back $44.5 million of the convertibles in 2009 and $60 million of the notes in 2008.

The Hutchinson, Minn.-based disk drive producer issued $130 million of the notes on Feb. 24, 2003.

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