Lucent buys back $58 million 8% convertibles

New York, Oct. 20 - Lucent Technologies Inc. bought back $58 million of its 8% convertible notes during the fourth quarter, chief financial officer Frank D'Amelio said on the company's earnings conference call.

The Murray Hill, N.J.-based telecommunications equipment maker's total outstanding debt and convertible notes decreased to $5.99 billion as of Sept. 30 from $6.162 billion as of the end of the preceding quarter, on June 30, with net debt down $350 million in that stretch, to $1.117 billion.

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