Ixia buys back $65 million of 3% senior convertible notes due 2015

By Marisa Wong

Madison, Wis., July 8 – Ixia repurchased $65 million of its 3% senior convertible notes due Dec. 15, 2015, according to an 8-K filing with the Securities and Exchange Commission.

The company repurchased the notes in a privately negotiated transaction on July 7 for an aggregate cash purchase price of $65,162,500 plus accrued interest of $119,000.

The company paid the purchase price with funds drawn from collateral accounts under its credit agreement dated March 2, 2015 with Silicon Valley Bank as administrative agent.

Following the repurchase, $135 million principal amount of the notes remains outstanding.

Calabasas, Calif.-based Ixia provides test and monitoring services that enable its customers to optimize networks and data centers to accelerate, secure and scale application delivery.

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