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Sepracor buys $48.2 million of its zero-coupon notes for $43.8 million
By Devika Patel
Knoxville, Tenn., Aug. 5 - Sepracor Inc. repurchased and retired $48.2 million of its 0% notes due 2010 for $43.8 million in cash in the second quarter, according to a 10-Q filed Wednesday with the Securities and Exchange Commission.
The privately negotiated repurchases resulted in a net gain of approximately $4 million on the extinguishment of debt.
As of June 30, $99.8 million of the notes remained outstanding, compared with the $148 million that was outstanding on Dec. 31, 2008.
Sepracor is a research-based pharmaceutical company with corporate headquarters in Marlborough, Mass.
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