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Amazon holders convert $472.93 million of 4.75% bonds ahead of redemption
By Susanna Moon
Chicago, June 11 - Amazon.com Inc. said noteholders converted $472,934,000 in principal amount of the $500 million of the 4.75% convertible subordinated notes due 2009.
Holders could convert the notes into Amazon shares at a price of $78.0275 from May 29 through June 6. Amazon stock (Nasdaq: AMZN) closed at $72.41 on May 9. The stock closed at $80.63 on June 6.
The company issued 6,061,093 shares of its common stock.
The company redeemed the remaining $27,066,000 in principal amount of the notes on June 9.
The Seattle-based online retailer announced the redemption on May 9 and said it would pay 100.475% of par plus accrued interest for the securities.
Following the redemption, Amazon previously said it would have $399 million of the convertibles outstanding.
Bank of New York is the trustee and paying agent (800 254-2826).
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