AAR calls 2.875% convertibles

By Jennifer Chiou

New York, Jan. 9 - AAR Corp. announced the redemption of its $16.36 million of 2.875% convertible senior notes due Feb. 1, 2024.

The company will redeem the notes at 100.958% plus accrued interest to Feb. 12, the redemption date.

Prior to 5 p.m. ET on Feb. 11, holders may convert their notes into AAR stock at a conversion price of $18.59 per share, which is equal to a conversion rate of 53.7924 shares per $1,000 principal amount.

AAR shares closed at $31.25 per share on Jan. 8.

The paying and redemption agent is U.S. Bank NA (contact Richard Prokosch at 651 495-3918).

AAR is a provider of products and services to the aerospace and defense industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.