Anixter buys back $28 million 8% senior notes in October

New York, Nov. 8 - Anixter Inc. said it repurchased $28 million of its 8% senior notes due 2003 during October.

The company paid $30.3 million for the debt, according to a filing with the Securities and Exchange Commission.

Anixter's most recent buybacks come on top of repurchases of $32.2 million of the notes in the three quarters ending Sept. 28, 2001 for which it paid $33.6 million. Of that amount, $6 million was bought during the most recent quarter.

For the fourth quarter of the year, Anixter will record an extraordinary loss of $1.4 million from the early extinguishment of debt. The earlier repurchases have resulted in extraordinary losses of $0.3 million in the most recent quarter and $1.7 million for the first three quarters of the year. The three-quarter figures include $0.3 million of debt issuance costs written off when the company canceled a $110 million revolving credit agreement.

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