Massey Energy buys back some 3.25% convertibles, retires 6.625% notes

By Angela McDaniels

Tacoma, Wash., Feb. 2 - Massey Energy Co. repurchased $11.9 million principal amount of its 3.25% convertible notes due 2015 during the fourth quarter and retired the remaining $21.9 million of its 6.625% senior notes due November 2010 on Jan. 4, according to the company's earnings release for the quarter and year ended Dec. 31.

The company reduced its total debt by $5.2 million and net debt by $30.3 million during the fourth quarter and by $98.9 million for the full year.

Total debt was $1.32 billion at Dec. 31, and net debt totaled $520.9 million.

Massey Energy is a coal company based in Richmond, Va.

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