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Hercules buys back $35.7 million 11 1/8% notes
New York, May 6 - Hercules Inc. said it has bought back $35.7 million principal amount of its 11 1/8% senior notes since Jan. 1.
The Wilmington, Del., specialty chemical company repurchased $25.8 million principal amount of the notes for $30.3 million in the first quarter and $9.9 million principal amount for $11.3 million in April and through May 6.
The buybacks were carried out under an authorization from the board of directors to repurchase up to $200 million of its debt.
As of March 31, Hercules had $200.2 million of the 11 1/8% notes outstanding.
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