OMI buys back $25.5 million 2.875% convertibles

New York, July 25 - OMI Corp. said it bought back $25.5 million of its 2.875% convertible senior notes due 2024 during the second quarter.

The Stamford, Conn., tanker operator paid $23.863 million for the securities using operating cash flow.

OMI also paid $65.21 million to buy back 3.5125 million shares and repaid $80 million of its reducing revolving credit facility during the three months, in addition to scheduled payments on its term loans.

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