Nabi buys back $25.7 million in 2.875% convertible senior notes

By Devika Patel

Knoxville, Tenn., Nov. 6 - Nabi Biopharmaceuticals said it redeemed $7 million of its 2.875% convertible senior notes for $6.2 million in the third quarter.

There were $35 million of the notes outstanding as of Sept. 27, but the company later bought back an additional $18.7 million of these notes in October.

The notes were bought back both times at a price of 89.

Nabi is a Boca Raton, Fla.-based biotech firm.

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