| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers F > Headlines for Franklin Resources, Inc. > News item |
Franklin says $285.28 million LYONs converted ahead of redemption
New York, June 2 - Franklin Resources, Inc. says holders of $285.729 million principal amount of its Liquid Yield Option Notes due 2031 converted them into stock ahead of the previously announced redemption.
The company issued 2.670 million shares in exchange.
The remaining $574,000 of LYONs will be redeemed on June 5 for cash.
Holders could convert the securities into stock at the rate of 9.3604 shares per $1,000 principal amount. Franklin stock closed at $90.69 on Friday.
As announced on May 19, the San Mateo, Calif., investment management company will pay $627.93 for each $1,000 principal amount at maturity in the call.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.