BE Semiconductor repurchases €2 million 5.5% convertibles due 2012

By Devika Patel

Knoxville, Tenn., March 1 - BE Semiconductor Industries NV said it bought back about €2 million of its 5.5% convertible notes due January 2012 in the open market. Morgan Stanley & Co. was the agent.

The notes were purchased at a net price of approximately €1.7 million, or 88.

The repurchase will result in a pre-tax gain of approximately €200,000 in the first quarter.

There is €34.3 million of the notes remaining outstanding.

Netherlands-based BE Semiconductor makes packaging, plating and die handling equipment for both leadframe and array connect applications

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