Altran says holders convert nearly all 6.72% bonds ahead of redemption

By Susanna Moon

Chicago, April 26 - Altran Technologies SA said holders opted to convert 98.4% of the 6.72% convertible bonds ahead of redemption on May 6.

The bonds were convertible until April 24 at the rate of one Altran share per bond, as previously noted. Any new shares issued as a result of conversion are entitled to dividend rights as of Jan. 1.

The company said on April 4 that it planned to redeem all of its 29,504,376 of outstanding 6.72% bonds at €4.38 per bond plus accrued interest of €0.101606, for a total of €4.481606, per bond on May 6.

The conversion increases equity and reduces group debt by some €120 million, according to a company press release issued on April 26.

Altran is a Paris-based science and engineering consulting company.

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