Fifth & Pacific issues shares for $11.2 million of 6% convertibles

By Toni Weeks

San Diego, Jan. 22 - Fifth & Pacific Cos., Inc. said that a holder of $11.2 million principal amount of the company's 6% convertible senior notes due 2014 agreed on Jan. 15 to exchange the convertibles into 3,171,670 shares of common stock, according to an 8-K filed with the Securities and Exchange Commission.

The company paid accrued interest through Jan. 22, the settlement date, in cash.

New York-based Fifth & Pacific, formerly Liz Claiborne Inc., was formed in May 2012. The company is focused on growing its global lifestyle brands: Juicy Couture, Kate Spade and Lucky Brand.

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