Solar Applied Materials buys back more 0% convertible notes due 2016

By Marisa Wong

Madison, Wis., Dec. 28 - Solar Applied Materials Technology Corp. said it repurchased $700,000 of its 0% convertible notes due 2016 in the open market on Friday. The repurchased notes have been canceled.

Solar issued $115 million of the convertibles in July 2011 and has repurchased a total of $21.1 million of the securities since November 2011. As of Dec. 28, the principal amount outstanding is $93.9 million.

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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