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Quotes & Info
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| SGMS > SEC Filings for SGMS > Form 8-K on 11-Jun-2009 | All Recent SEC Filings |
11-Jun-2009
Other Events
On June 10, 2009, the amount authorized under the Company's program for the repurchase of its 0.75% Convertible Senior Subordinated Debentures due 2024 (the "Convertible Debentures") was increased from $100.0 million to $158.3 million in aggregate principal amount. As of June 10, 2009, approximately $58.3 million in aggregate principal amount of Convertible Debentures have been repurchased under the program, leaving $100.0 million in aggregate principal amount of Convertible Debentures available to be repurchased under the program. There was approximately $215.5 million in aggregate principal amount of Convertible Debentures outstanding as of June 10, 2009. The program, originally announced in December 2008, expires on December 31, 2009. Purchases are expected to be funded by cash flows from operations, borrowings, or a combination thereof. The manner, timing and amount of purchases will be determined by our management based on its evaluation of market conditions, price of the Convertible Debentures and other factors. The program may be suspended or discontinued at any time.
On June 10, 2009, the Company adopted a repurchase program with respect to up to $50.0 million in aggregate principal amount of the Company's 6.25% Senior Subordinated Notes due 2012 (the "2012 Notes"). The program expires on December 31, 2009. There was $200.0 million in aggregate principal amount of 2012 Notes outstanding as of June 10, 2009. Purchases are expected to be funded by cash flows from operations, borrowings, or a combination thereof. The manner, timing and amount of purchases will be determined by the Company's management based on its evaluation of market conditions, price of the 2012 Notes and other factors. The program may be suspended or discontinued at any time.
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