Kendle buys back $5.5 million of convertible notes in fourth quarter

By Susanna Moon

Chicago, March 16 - Kendle International Inc. repurchased $5.5 million par value of its convertible notes on the open market for cash of $4.9 million in the fourth quarter.

In 2009, the company repurchased $45.5 million par value of the convertibles on the open market for cash of $36.5 million, according to a 10-K filing with the Securities and Exchange Commission.

The company said on Nov. 4, 2009 that it had repurchased $40 million of its convertible debt for a total of $31.6 million in the year to date.

Kendle International is a Cincinnati-based clinical research organization that provides clinical research services to the biopharmaceutical industry.

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