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Brooke Group Pays $148 Million to Repurchase Debt (Update1) 

Jump to full article: Bloomberg News, 1999-05-27

Intro:

Brooke Group Ltd., the cigarette maker controlled by financier Bennett LeBow, paid about $148 million to cut its outstanding debt by more than half.

The company on Tuesday repurchased its 15.75 percent senior secured notes due in 2001 for $147.7 million, including interest that had accrued, the company said in a regulatory filing. The notes had a face value of $151 million, the company said. The repurchase leaves Brooke with about $125 million in debt.

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