Trailer Bridge plans to buy stocks, notes

Trailer Bridge plans to buy stocks, notes    Trailer Bridge said its board has authorized the repurchase of up to $1 million of the company's common stock and up to $1 million of the company's 9.25 percent senior secured notes maturing on Nov. 15, 2011. This is in addition to $1.5 million in notes that the company repurchased in October and November in private negotiated transactions.
   Trailer Bridge, which operates a container service between the U.S. mainland and Puerto Rico and the Dominican Republic, said stock repurchases under this program may be made in the open market or through privately negotiated transactions in a one-year program starting Dec. 30.
   The timing and actual number of shares repurchased will depend on market conditions and other factors, the company said.
   The stock repurchase program, which will expire on Dec. 30, 2010 unless extended by the board, may start or be suspended at any time without prior notice. Separately, Trailer Bridge expects to purchase up to $1 million of senior secured notes in privately negotiated transactions or in the open market.