Pier 1 Imports retires $78.9 million of 6.375% convertibles due 2036

By Angela McDaniels

Tacoma, Wash., Oct. 7 - Pier 1 Imports, Inc. retired $78.9 million of its 6.375% senior convertible notes due 2036 during the second quarter of fiscal 2010, according to the company's 10-Q report for the period.

The quarter ended Aug. 29, and the 10-Q was filed with the Securities and Exchange Commission on Wednesday.

The $78.9 million convertibles were purchased by a foreign subsidiary of the company during the fiscal first quarter for $27.4 million, including accrued interest.

When the company reported the purchase in March, it said the subsidiary planned to hold the convertibles until maturity.

As of Aug. 29, $16,577,000 principal amount of the convertibles remained outstanding.

Pier 1 is a specialty retailer based in Fort Worth.

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