Pier 1 subsidiary repurchases $79 million 6 3/8% convertibles

By Devika Patel

Knoxville, Tenn., March 20 - Pier 1 Imports, Inc. said a foreign subsidiary repurchased $79 million of the company's 6 3/8% convertible senior notes due 2036 on March 20.

The notes were bought back at $27 million, which includes interest.

The subsidiary intends to hold the convertibles until maturity.

The company is a Fort Worth, Texas, specialty retailer.

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