Affymetrix buys back $72 million 3.5% convertibles for $66.9 million

By Devika Patel

Knoxville, Tenn., Oct. 27 - Affymetrix Inc. announced that it has bought back $72 million of its 3.5% senior convertible notes in the third quarter.

The company paid $66.9 million for the notes and generated a gain of $4.1 million, or $0.06 per diluted share, from this debt repurchase.

As of Oct. 27, about $149 million of the notes remains outstanding.

The Santa Clara, Calif.-based company is focused on technology used by pharmaceutical, diagnostic and biotechnology companies.

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