CMC Magnetics redeems, cancels rest of 0% convertibles due 2012

By Marisa Wong

Madison, Wis., Jan. 28 - CMC Magnetics Corp. said it redeemed and cancelled the remaining portion of its $100 million zero-coupon convertible bonds due 2012.

As of Sept. 7 the principal amount of the outstanding convertibles was $8,325,000. Holders put back $8 million of the bonds on Sept. 8 and the remaining $325,000 on Oct. 8.

All outstanding bonds were cancelled on Dec. 8.

CMC is a Taipei, Taiwan-based maker of storage media and electronic components.

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