Alesco Financial bought back $32.5 million convertibles in fourth quarter

By Jennifer Chiou

New York, March 4 - Alesco Financial Inc. said it repurchased and retired $32.5 million of its convertible notes during the fourth quarter ended Dec. 31.

The company paid $17.6 million for the notes.

Because of the repurchase, the company said it realized a gain of $14.1 million on the transactions.

During 2008, Alesco said it repurchased and retired $111.4 million total of its convertibles for $50.6 million.

The company added that $28.7 million of notes remains outstanding.

Alesco is a specialty finance real estate investment trust based in Philadelphia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.