ShengdaTech buys back $19.75 million in 6% convertibles due 2018

By Devika Patel

Knoxville, Tenn., Dec. 3 - ShengdaTech Inc. said it repurchased $19.75 million of its 6% convertible senior notes due 2018 for $9.89 million, plus accrued interest, in cash.

The notes were bought in a series of privately negotiated transactions executed between Nov. 18 and Nov. 25.

Based in Tai'an City, China, the company makes and markets NPCC and coal-based chemicals. The products are used in various applications, including tires and polyvinyl chloride, or PVC, building materials.

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