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Internet Capital buys back $118.6 million 5½% convertibles
New York, July 2 - Internet Capital Group, Inc. said it paid $35.5 million in cash to buy back $118.6 million principal amount of its 5½% convertible subordinated notes due 2004.
Internet Capital said it made the repurchases during June and July in private transactions.
The Wayne, Pa. e-commerce company now has $327.4 million principal amount of the convertibles outstanding.
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