Ciber retired $23 million of 2.875% convertibles in fourth quarter; remainder expected to be put

By Jennifer Chiou

New York, March 6 - Ciber, Inc. retired $23 million of its 2.875% convertible senior subordinated debentures due December 2023 during the fourth quarter of 2007 and expects the remainder to be put back on Dec. 15, 2008, according to a 10-K filing with the Securities and Exchange Commission.

The company bought back the debentures for a total purchase price of $22.1 million and a resulting gain of $887,000.

The repurchase leaves an outstanding balance of $152 million of debentures as of Dec. 31.

The Greenwood Village, Colo., provider of system integration consulting services issued $175 million of the debentures on Dec. 2, 2003.

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