Brocade buys back $69.2 million 2% convertibles

New York, May 19 - Brocade Communication Systems, Inc. said it bought back $69.2 million face amount of its 2% convertible subordinated notes during its fiscal second quarter ended April 30.

The San Jose, Calif., networked storage company paid an average of 96 for the notes for a total of $66.5 million in cash.

As of April 30, Brocade had $278.9 million of the convertibles still outstanding.

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