Invitrogen buys back $125 million 2¼% convertibles

New York, May 6 - Invitrogen Corp. said it bought back $125 million of its 2¼% convertible subordinated notes due 2006 on April 28.

The Carlsbad, Calif., provider of life sciences products and services used $124 million of cash for the repurchase.

Funding for the transaction came from a new $250 million secured line of credit due Sept. 30, 2005. The facility is collateralized by investments and carries interest at Libor plus 15 basis points.

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