Local company news roundup

March 6, 2014 at 1:21AM

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.

about the writer

about the writer

More from Business

See More
card image

Minnesota’s top CEOs opened the New York Stock Exchange on Thursday, talking through the state’s successes and future opportunities.

card image