Ceradyne buys back $24.5 million 2.875% convertible notes due 2035

By Devika Patel

Knoxville, Tenn., July 28 - Ceradyne, Inc. repurchased $24.5 million of its 2.875% senior subordinated convertible notes due 2035 during the second quarter, according to a 10-Q filed Tuesday with the Securities and Exchange Commission.

The notes were bought for $20.3 million.

Following this, there are $96.5 million of the convertibles outstanding. The company may repurchase up to $29.7 million more of the convertibles under the $50 million program approved by the board of directors.

Ceradyne, based in Costa Mesa, Calif., develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications.

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