Local company news roundup

  • Updated: March 5, 2014 - 7:21 PM

DEBT AND EQUITIES

Digital River Inc., Minnetonka, has repurchased $150 million of its 2 percent convertible senior notes due 2030 for $153.75 million in cash, excluding accrued interest. After the ­closing of this ­repurchase, $145.8 million of notes ­remain ­outstanding. The company expects to record a one-time pretax charge in the first quarter of fiscal 2014 of about $5.2 million related to settlement of the notes and acceleration of the recognition of deferred financing costs ­associated with the repurchased notes. Excluding the one-time charge, pretax savings ­related to ­interest and amortization of deferred financing costs on the repurchased notes will be about $300,000 for the first quarter of 2014 and $2.9 million for the full year 2014.

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