OMI repays $80 million of bank borrowings

New York, July 25 - OMI Corp. said it repaid $80 million of its reducing revolving credit facility during the second quarter, in addition to scheduled payments on its term loans.

The Stamford, Conn., tanker operator also used operating cash flow to buy back $25.5 million of its 2.875% convertible senior notes due 2024 during the second quarter at a cost of $23.863 million and 3.5125 million shares at a cost of $65.21 million.

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