Brocade buys back $34 million 2% convertibles

New York, Nov. 22 - Brocade Communications Systems, Inc. said it bought back $34.0 million face value of its 2% convertible subordinated notes during the fourth quarter.

The San Jose, Calif., networked storage company paid an average of 94 cents on the dollar for a total of $32.1 million.

As of Oct. 30, Brocade had $352.3 million convertibles outstanding.

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