Key Energy buys back $30.8 million 5% convertibles

New York, Aug. 6 - Key Energy Services, Inc. said it bought back $30.8 million of its 5% convertible subordinated notes in the three months ended June 30.

The Midland, Texas onshore well service company recorded a gain of $14,000 from the buybacks, according to a filing with the Securities and Exchange Commission.

Quantum calls 7% convertibles

New York, Aug. 6 - Quantum Corp. said it will redeem all its $287.5 million 7% convertible subordinated notes due 2004 on Aug. 21.

The San Jose, Calif. data storage company will pay $1,010 per $1,000 principal amount of the notes plus accrued interest up to but not including the redemption date of $3.89 per $1,000 principal amount.

Holders can convert the notes into stock up to 5.00 p.m. ET on Aug. 20 at the rate of 21.5870 shares of Quantum stock and 16.4057 shares of Maxtor Corp. stock. Quantum stock closed at $2.88 Wednesday while Maxtor stock closed at $9.31.

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