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Hong Kong's Pacific Basin buys back $1.74 million 3.3% convertibles
By Marisa Wong
Milwaukee, June 25 - Pacific Basin Shipping Ltd. reported that it made further repurchases of its $390 million 3.3% guaranteed convertible bonds due 2013.
In off-market transactions on Friday, the company bought 174 units of the bonds, with a face value of $10,000 each, at par for a total of $1.74 million.
Pacific Basin has now repurchased a total of $269.97 million of the convertibles for $246,324,245.
The bonds were issued by subsidiary PB Issuer Ltd. on Dec. 20, 2007 and guaranteed by Pacific Basin Shipping, which is a dry bulk shipping company based in Hong Kong.
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