TranSwitch buys back $15 million 5.45% convertibles

By Angela McDaniels

Tacoma, Wash., Dec. 29 - TranSwitch Corp. said it purchased $15 million of its 5.45% convertible notes due 2010 for $9.9 million plus accrued interest on Dec. 24.

Following the repurchase, the amount of convertibles outstanding is $10 million.

The company expects to record a $4.5 million gain from the buyback in the fourth quarter, according to a company news release.

TranSwitch is a Shelton, Conn.-based maker of semiconductors used in voice, data and video communications network equipment.

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