Home Products bought back bonds in third quarter

New York, Nov, 12 -Home Products International Inc. (Caa2) said that it had repurchased high yield bonds in the third quarter, a factor in causing its cash and cash equivalents to have decreased to $2.8 million as of Sept. 27 from $4 million as of last Dec. 28,

The Chicago-based manufacturer of consumer housewares - which issued $125 million of 9 5/8% senior subordinated notes due 2008 in May 1998 - said that it had bought bonds with a face value of $3.5 million at a total cost of $2.6 million.

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