Cenveo bought back $7.4 million 8 3/8% notes, $2.1 million 7 7/8% notes since March 28

By Jennifer Chiou

New York, May 6 - Cenveo, Inc. purchased $7.4 million of its 8 3/8% senior subordinated notes due 2014 and $2.1 million of its 7 7/8% senior subordinated notes due 2013 from March 29 through April 8, according to a 10-K filing with the Securities and Exchange Commission.

The company said it paid $4.1 million for the 8 3/8% notes and $1.2 million for the 7 7/8% notes, plus accrued interest. It will record gains on the early extinguishment of debt of $4.3 million during the second quarter of 2009.

Prior to that, during the first quarter, Cenveo also bought back $32.7 million of the 8 3/8% notes, $5 million of the 7 7/8% notes as well as $5 million of its 10½% notes for about $19 million, $3.1 million and $3.3 million, respectively, plus accrued interest.

For those purchases, the company said it recorded gains on the early extinguishment of debt of $17.6 million, which included the write-off of $600,000 of fair value increase related to the 8 3/8% notes, $200,000 of previously unamortized debt issuance costs and $100,000 of fees.

The purchases were made in the open market.

Cenveo is a Stamford, Conn.-based commercial printing company and direct-mail envelope manufacturer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.