Massey Energy buys back $19 million 3.25% convertibles in fourth quarter

By Angela McDaniels

Tacoma, Wash., Feb. 3 - Massey Energy Co. said it repurchased $19.0 million of its 3.25% convertible senior notes due 2015 during the fourth quarter for $10.4 million.

The repurchase resulted in an $8.6 million pre-tax gain, according to a company news release.

The company's total debt was $1.47 billion as of Dec. 31, compared with $1.10 billion as of Dec. 31, 2007.

Massey Energy is a coal company based in Richmond, Va.

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