GSI Group buys back $7.474 million 12% notes

By Jennifer Chiou

New York, May 12 - GSI Group, Inc. said it repurchased $7.474 million of its 12% senior notes due 2013 from Charlesbank, according to an 8-K filing with the Securities and Exchange Commission.

The company bought back the notes at 101%.

Charlesbank is the majority shareholder of GSI Holdings, Inc., the company's parent.

The Assumption, Ill.-based manufacturer and provider of agricultural equipment and services said the repurchased notes will be canceled.

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