Sepracor buys back $21.3 million of its 0% convertibles due 2024

By Susanna Moon

Chicago, Aug. 11 - Sepracor Inc. said it repurchased $21.3 million principal amount of its 0% convertible senior subordinated notes due October 2024, according to a 10-Q filing with the Securities and Exchange Commission.

The issuer redeemed the convertibles in August. As of June 30, $500 million of the notes was outstanding.

The zero-coupon notes are convertible into cash or into common shares at a price of $67.20, at the option of the holders in October 2009, 2014, 2019 and 2024, the filing said.

Sepracor is a Marlborough, Mass., pharmaceutical company.

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