Perry Ellis to buy back $5 million 12¼% notes

Perry Ellis International, Inc. said its board of directors has authorized the repurchase of up to $5 million of its 12¼% senior subordinated notes over the next six months.

Securities may be bought in the open market or in privately negotiated transactions, the Miami, Fla. company said.

"Given the current interest rate environment and our current excess cash position, we believe that the bond purchase is an extremely effective use of the company's working capital," Timothy B. Page, Perry Ellis' chief financial officer, said in a news release.

Interpool retires $5.2 million 6 5/8% notes

Interpool, Inc. said it retired $5.205 million of its 6 5/8% notes due 2003 during the second quarter of 2002, leaving $42.421 million outstanding as of June 30.

The Princeton, N.J. container and transportation equipment leasing company said in a filing with the Securities and Exchange Commission it recognized an extraordinary gain of $19,000 net of tax expense of $13,000 from the transaction.

Interpool originally issued $100 million principal amount of the notes in February 1998.

It previously retired $17 million of the notes in the fourth quarter of 1999, $8.2 million in the first quarter of 2000 and $27.2 million in the second and third quarters of 2001.

Aames buys back $2.2 million 9.125% notes, to repurchase more

Aames Financial Corp. said it bought back $2.2 million of its 9.125% senior notes due 2003 and will repurchase a total of $10 million for a price of $8.5 million.

The transaction is part of an agreement between Capital Z Financial Services Fund II, LP, its principal stockholder, and a seller. As announced on April 30, the seller had agreed to sell Capital Z $50 million of Aames 5.5% convertible subordinated debentures due 2006 which Capital Z would then tender in the exchange.

However the seller only came up with $41.616 million of the convertibles. It has now agreed with Capital Z that instead of the remaining $8.384 million of convertibles, the sellers will sell to Aames $10 million principal amount of its 9.125% senior notes due 2003 for $8.5 million. On Sept. 19, the company said it closed on a purchase of $2.2 million of notes.

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