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Brightpoint repurchases outstanding convertible notes

INDIANAPOLIS—Brightpoint Inc. said it has repurchased 35,077 of its 250,000 outstanding convertible notes due 2018.

The 250,000 had a book value of about $133 million or $532 per convertible note. This purchase, funded by working capital, cost approximately $10 million, or $285.5 per note.

The company said any addition repurchases will depend on availability of capital, prevailing market price of notes and market conditions, among other things.


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