Alto Palermo to repurchase $31.76 million convertible notes due 2014

By Marisa Wong

Madison, Wis., May 19 - Alto Palermo SA is planning a repurchase offer for any and all of its $31,755,502 of outstanding convertible notes due 2014, according to a 6-K filing with the Securities and Exchange Commission.

The purchase price will be between $1.00 and $1.165152 per note, which is equal to a total payment of $31,755,502 to $37 million for all the notes.

The repurchase offer is subject to shareholders approval at a meeting to be held on May 26.

Alto Palermo is a Buenos Aires-based developer and operator of commercial centers.

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