GameStop buys back $30 million senior notes

By Angela McDaniels

Tacoma, Wash., Sept. 11 - GameStop Corp. has repurchased $30 million of its senior notes as of Aug. 2 under a buyback authorization granted by the board of directors on Feb. 7, 2008.

The company made the disclosure in its 10-Q report for the fiscal second quarter ended Aug. 2, which was filed with the Securities and Exchange Commission on Thursday.

The board authorized the repurchase of up to $130 million of senior notes.

The company said the associated loss on retirement of debt is $2.3 million, which consists of the premium paid to retire the notes and the write-off of the deferred financing fees and the original issue discount on the notes.

GameStop is video game retailer based in Grapevine, Texas.

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