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Akamai buys back $24.9 million convertibles
New York, Dec. 20 - Akamai Technologies Inc. said it bought back $24.9 million principal amount of its 5½% convertible subordinated notes due 2007 on Dec. 17.
The Cambridge, Mass., distributed computing company paid $26.1 million in cash, including accrued interest, to an institutional investor.
With the latest buyback, Akamai has repurchased $243.4 million principal amount of the 5½% convertibles leaving $56.6 million outstanding.
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