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Malaysia's Olympia Industries buys back RM 53.02 million convertibles
By Marisa Wong
Madison, Wis., April 24 - Olympia Industries Bhd. said it purchased and canceled RM 53,016,905 of its irredeemable convertible bonds due 2013 under a put and call option agreement with lenders.
Following the purchase and cancellation on April 23, there is RM 10,000 of the bonds outstanding.
The company previously purchased and canceled RM 41,149,179 of the bonds on April 5, leaving RM 53,026,905 of the bonds outstanding.
As noted before, the put and call option between the company and its lenders was under a restructuring completed in 2007.
Olympia is a Kuala Lumpur-based investment holding company.
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