Argentina's Irsa Inversiones buys $5 million of Alto Palermo 7 7/8% notes

By Susanna Moon

Chicago, Feb. 3 - Irsa Inversiones Y Representaciones SA said it purchased $5 million of Alto Palermo SA's 7 7/8% series No.1 notes due 2017, according to a 6-K filing with the Securities and Exchange Commission.

The purchase amount represents 4.17% of the $120 million total issue.

Since Nov. 25, the company said its ownership in Alto's 7 7/8% notes has grown to $10 million, or 8.34% of the original issue.

The Buenos Aires-based issuer is a developer and operator of commercial centers.

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