Fleetwood converts 781,065 units of trust II preferreds ahead of call

Pittsburgh, June 8 - Fleetwood Enterprises Inc. said 781,065 units of its 9.5% convertible Trust II preferred securities were converted into about 1.3 million shares of the company's common stock ahead of their redemption, according to a news release.

The converted preferreds included a number that were tendered to the company in privately negotiated transactions.

Fleetwood said Tuesday that it completed the call of the remaining 781,065 units of the securities June 4.

The liquidation amount is $22 per security. Fleetwood also paid a premium of 6.333% plus accrued distributions.

Fleetwood is a Riverside, Calif.-based manufacturer of recreational vehicles and a manufacturer, retailer and financier of manufactured housing.

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