JLG bought back $12.4 million 8¼% notes

New York, May 31 - JLG Industries, Inc. said it bought back $12.4 million principal amount of its 8¼% senior notes due 2008 on March 29.

The company used $13.5 million of cash generated from operations to purchase the securities at 105.625% of par plus accrued interest, according to a 10-Q filing with the Securities and Exchange Commission.

The McConnellsburg, Pa., provider of access equipment and highway-speed telescopic hydraulic excavators said the buyback will save $0.3 million of interest expense in the current year and $1.0 million annually going forward.

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