Greatbatch buys back debt
Greatbatch Inc. has repurchased $21.8 million of its convertible debt in refinancing move that will result in the company posting a pre-tax gain of $3.2 million during the fourth quarter, the Clarence-based battery and medical component manufacturer said Thursday.
Greatbatch funded the repurchase, which were made at a discount to face value, with borrowings from its line of credit, according to a filing with the Securities and Exchange Commission.
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