Solar Applied Materials repurchases more 0% convertibles due 2016

By Tali Rackner

Norfolk, Va., July 23 – Solar Applied Materials Technology Corp. said holders of the remaining $85.8 million of its 0% convertible notes due 2016 exercised their put option on the bonds, according to a Taiwan Stock Exchange announcement.

The company repurchased and canceled the notes on July 22. Following the transaction, no bonds remain outstanding.

Solar Applied issued $115 million of the convertibles in July 2011 and has been buying back portions of the notes since November 2011.

The Tainan City, Taiwan-based company makes high-technology metals and rare materials for coating metal disks like CDs and DVDs.

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