Alliant holders convert nearly all 3% convertibles ahead of redemption

By Angela McDaniels

Tacoma, Wash., Aug. 26 – Alliant Techsystems Inc. said holders converted $8.29 million principal amount of its 3% convertible senior subordinated notes due 2024 ahead of the Aug. 20 redemption date.

The remaining $26,000 principal amount of outstanding notes were redeemed at par plus accrued interest using cash on hand and then canceled, according to an 8-K filing with the Securities and Exchange Commission.

The company called the notes on July 11. Holders had the right to convert their notes at any time prior to the close of business on Aug. 18.

The company said it plans to satisfy its obligations with respect to the $8.29 million converted notes solely in cash on various dates between Aug. 27 and Sept. 17.

Alliant Techsystems is an Arlington, Va.-based aerospace, defense and commercial products company.

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