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Alto Palermo offers to buy back $31.75 million convertibles at 111.4
By Susanna Moon
Chicago, Jan. 15 - Alto Palermo SA will offer to repurchase its outstanding $31,746,502 of class I convertible notes due July 2014, according to a 6-K filing with the Securities and Exchange Commission.
In the repurchase offer, the company will pay $1.11420145 per note for a total of $35,371,999.
The price will be adjusted to the effective payment date and paid in a single installment in Argentine pesos at the bid exchange rate quoted by Banco de la Nacion Argentina for the day before of the payment date, the filing noted.
IRSA Inversiones y Representaciones Sociedad Anonima, the company's controlling shareholder, owns 99.97% of the outstanding notes.
Alto Palermo is a Buenos Aires-based developer and operator of commercial centers.
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