ConMed buys back $9.9 million more 2.5% convertibles at 21% discount in first quarter

By Susanna Moon

Chicago, April 24 - ConMed Corp. said it repurchased and retired $9.9 million face value of its 2.5% convertible notes at a discount of about 21% in the first quarter of 2009.

The repurchase was funded mostly with cash.

The transaction resulted in a pre-tax gain of $1.1 million.

The company said on Jan. 5 that it bought back $25 million face value of its 2.5% notes during the fourth quarter at a discount of about 20%.

ConMed is a Utica, N.Y.-based medical technology company.

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