Feintool to redeem 1 7/8% convertibles

New York, April 21 - Feintool International Holding said it will redeem its 1 7/8% convertible bond due 2004.

The security will be redeemed at par on June 14.

Funding for the redemption will come from Feintool's recent sale of a 2% convertible bond due 2009.

That CHF75 million offering priced at par on March 30 with a 26% conversion premium via Swissfirst Bank AG.

Feintool is a Lyss, Switzerland, technology and systems provider in fineblanking/forming and assembly/automation.

© 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.