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Fleetwood calls 9.5% convertible trust preferreds
New York, May 5 - Fleetwood Enterprises, Inc. said it will redeem its $37.95 million of 9.5% convertible trust II preferred securities issued by Fleetwood Capital Trust II.
The securities will be redeemed on June 4 at 106.33% of the $22 liquidation amount or $23.39 plus accrued distributions up to but excluding the redemption date.
Holders can convert the trust preferreds into stock up to 5 p.m. ET on June 3 at a price of $12.56 per share. Fleetwood stock closed at $14.92 Wednesday.
Fleetwood is a Riverside, Calif. maker of recreational vehicles and manufactured housing.
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