Metal parts supplier Metaldyne buys back bonds

Newswire

PLYMOUTH, Mich., Aug 21 (Reuters) - U.S. metal parts supplier Metaldyne Corp. said on Wednesday it plans to spend $77 million to buy back 4.5 percent convertible subordinated notes maturing in 2003. The company, based in Plymouth, Michigan, said it expects to buy back $78.2 million of the notes at 98.5 cents on the dollar. It said the notes ceased to be convertible into Metaldyne common shares because of a November 2000 transaction in which the company went "private." Metaldyne conducted ...

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