Holders may convert FTI Consulting's $150 million 3.75% senior subordinated convertibles

By Devika Patel

Knoxville, Tenn., Jan. 15 - FTI Consulting said that its $150 million of 3.75% senior subordinated convertible notes due July 15, 2012 will be convertible from Jan. 15 through April 15.

The conversion opportunity arose because for at least 20 trading days during the 30 consecutive trading days up to Jan. 15, the closing price of the company's common stock was greater than or equal to $37.50, or 120% of the conversion price of the notes, $31.25.

Holders who elect to convert will receive cash for the lesser of the $1,000 principal amount of the notes or the conversion value. The company may elect to pay any amount in excess of the $1,000 principal with shares, cash or a combination.

Wilmington Trust Co. is the trustee.

FTI Consulting is a Baltimore-based consulting firm.

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