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Strides Arcolab repurchases $7 million of its 0% convertible bonds
By Devika Patel
Knoxville, Tenn., July 2 - Strides Arcolab Ltd. announced it bought back another $7 million of its $100 million in 0% convertible bonds due 2012.
It reported July 1 that it had repurchased $11.5 million face amount of its $100 million 0% convertible bonds due 2012 and $2 million face amount of its $40 million 0.5% convertible bonds due 2010.
The company may buy more of the bonds in future purchases.
Strides is a Bangalore, India-based pharmaceutical manufacturing company.
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