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Jupiter buys back debt to bolster balance sheet

Asset manager makes shrewd move with cash reserves

Jupiter displayed its commercial acumen last week when it offered to buy back some of the £425m-worth of debt it took on to finance its 2007 buyout.

The move turns on its head what had looked, at first sight, like a black mark against Jupiter's good name - the fact that its debt was trading at about 40 pence in the pound.

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