Benefitfocus repurchases $114M of principal

Health plan cloud company Benefitfocus has agreed to repurchase $114 million shares of aggregate principal.

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Benefitfocus is repurchasing certain of its 1.25 percent of its senior convertible notes due in 2023. This repurchase is funded through Benefitfocus’ secured credit facility, according to an Aug. 26 Benefitfocus news release.

The repurchase agreement will close Aug. 31.

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