Akamai Re-purchases Debt

• By theWHIR.com , December 20, 2004

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December 20, 2004 -- (WEB HOST INDUSTRY REVIEW) -- Content delivery network operator Akamai Technologies (akamai.com) announced on Monday that it re-purchased an additional $24.9 million in principal amount of its 5.5 percent convertible subordinated notes due in 2007. The transaction was completed last Friday.

The company says it has re-purchased a total of $243.4 million in principal amount of its 5.5 percent notes. A total of $56.6 million is outstanding.

The company said that in order to complete the most recent purchase, it paid $26.1 million in cash to an institutional investor.

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