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UPDATE 1-Silver miner Coeur D'Alene lowers debt level

Thu Jul 2, 2009 9:48am EDT

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* Retires $150 mln of convertible debt in 2009 first half

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* Shares fall 4.6 percent on NYSE in early trade (In U.S. dollars, unless noted)

TORONTO, July 2 (Reuters) - Silver producer Coeur d'Alene Mines Corp (CDE.N) (CDM.TO) said on Thursday it lowered its convertible debt by 37 percent, or $150 million, in the first half of 2009.

The company said the debt was trimmed through a series of privately negotiated deals.

The retired notes were a part of the company's senior notes due January 2024 and its senior notes due March 2028.

Coeur, which operates the San Bartolome mine in Bolivia and the Palmarejo mine in Mexico, said it will provide a full financial update when it reports its second-quarter operating results on Aug. 6.

Coeur shares fell 4.6 percent in early trade on Thursday to $12.35 on the New York Stock Exchange.

($1=$1.16 Canadian) (Reporting by Euan Rocha; editing by Peter Galloway)

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