borders books finance

What is the purpose of the loan financed share repurchase programs?

On Wall Street Journal of April 5, says the books Border spent money from loans (probably 8 per cent interest) for a share buyback. Who borrow to support their action by Price … any funding program here? Why does this, it is assumed that the scale is too small to raise the price, and "control" of the class type B or A stocks not be readily available for purchase, right, at the advent of the possible purchase?

Does the Journal say how much they buy back? What was the value? Currently, the Group of the border has $ 2.6 billion in assets and $ 1.9 billion in debt, so they can afford take a little more debt without problems. Apparently they are short of money. They are about $ 120 million in the bank and $ 370 million in liquid assets (excluding inventory), but are more than twice that in the short-term obligations, so it certainly will not be able to buy back any of the stocks with money in hand. That's what probably made them turn to loans. As far as his strategy, which should probably be done with a record of it. It is likely that one of the many common reasons companies wishing to buy back their shares and the loan was only his means to an end. If I were them, would not be affected by both the loan as you would Interest, and just to make sure that it would be cost prohibitive, which is a minor concern. Common reasons for wanting to buy back shares: 1) excessive outstanding shares could dilute the value of their shares, and want to reverse the trend 2) they're getting ready to offer stock options to employees and actions they need on hand to meet the offer 3) are preparing to stock tender offer to merge with another company and the need for action cover the range of 4) who have already made the offer and are following through

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