Alliant says 3%, 2.75% notes are convertible in fourth quarter

By Susanna Moon

Chicago, Sept. 21 - Alliant Techsystems Inc. said its $200 million of 3% convertible senior subordinated notes due Aug. 15, 2024 and its $280 million of 2.75% convertible senior subordinated notes due Feb. 15, 2024 are convertible from Oct. 1 through Dec. 30.

Both series of notes became convertible on Sept. 17 when the company's stock traded at 130% of the conversion price for at least 20 out of 30 consecutive trading days, according to an 8-K filing with the Securities and Exchange Commission.

For the 3% notes, the conversion rate is 12.5392 shares per $1,000 principal amount of the notes. The conversion price is $79.75.

The conversion rate for the 2.75% notes is 12.5843 shares per $1,000 principal amount of the notes. The conversion price is $79.46.

Alliant is an Edina, Minn.-based supplier of aerospace and defense products.

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