Amazon.com's board approves new $500 million convertible notes repurchase program

By Ted A. Knutson

Washington, March 11 -Amazon.com, Inc.'s board of directors has authorized a new program to repurchase up to $500 million of the Seattle-based web retailer's 4.75% convertible subordinated notes due 2009 and 6.875% premium adjustable convertible securities in the PEACS structure due 2010.

Last year, the company spent $154 million to call some of the company's 4.75% convertible subordinated notes due 2009. The sum included a redemption premium of $4 million.

The announcement of the buyback authorization came in Amazon's 10-K annual report with the Securities and Exchange Commission.

No date was given for the end of the program. Amazon said the board's action occurred this month.

© 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.