American Greetings repurchases $63.6 million 11¾% notes

New York, Dec. 23 - American Greetings Corp. (Ba3/BB+) said that it had repurchased $63.6 million of its 11¾% subordinated notes due 2008 during the third quarter.

The Cleveland-based maker of greeting cards reported $13.8 million in costs related to the debt repurchase.

The company sold $260 million of the notes in June 2001, and they were still outstanding as of this past fall.

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