Malaysia's Olympia Industries buys back RM 75.54 million convertibles

By Marisa Wong

Madison, Wis., July 29 - Olympia Industries Bhd. announced that it purchased and canceled RM 75,538,618 of its irredeemable convertible bonds due 2013 on July 28.

Following the cancellation, RM 105,259,633 of the convertible bonds remain outstanding.

Olympia said the purchase was part of a put and call option between the company and its lenders under a restructuring scheme completed in 2007.

Olympia is a Kuala Lumpur-based investment holding company.

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