Sepracor buys $48.2 million of its zero-coupon notes for $43.8 million

By Devika Patel

Knoxville, Tenn., Aug. 5 - Sepracor Inc. repurchased and retired $48.2 million of its 0% notes due 2010 for $43.8 million in cash in the second quarter, according to a 10-Q filed Wednesday with the Securities and Exchange Commission.

The privately negotiated repurchases resulted in a net gain of approximately $4 million on the extinguishment of debt.

As of June 30, $99.8 million of the notes remained outstanding, compared with the $148 million that was outstanding on Dec. 31, 2008.

Sepracor is a research-based pharmaceutical company with corporate headquarters in Marlborough, Mass.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.