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Desc buys back $53 million of medium-term promissory notes using credit facility proceeds
By Caroline Salls
Pittsburgh, Feb. 2 - Desc, SA de CV bought back $53 million of its medium-term promissory notes due 2007, according to a company news release.
The buyback was funded by proceeds from a $375 million credit facility obtained last month.
The Mexico City-based industrial group said the buyback is part of its efforts to strengthen its financial structure.
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