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Hasbro 2.75% debentures are convertible through first quarter
By Angela McDaniels
Seattle, Jan. 4 - Hasbro, Inc. said that holders of its 2.75% convertible senior debentures due 2021 may convert their debentures at any time during the quarter ending March 31.
The debentures are convertible because the company's common stock closed above $23.76 per share for at least 20 trading days in the last 30 trading days of the fourth quarter of 2006, according to a company news release.
The debentures are convertible into 46.2963 shares of common stock per $1,000 principal amount of debentures.
The company's stock closed at $27.53 on Thursday (NYSE: HAS), which is 127% above the conversion price of $21.60. If the closing share price exceeds 125% of the conversion price for at least 20 days in any 30-trading-day period, the company will have the right to call the debentures.
Hasbro is a game and toy maker based in Pawtucket, R.I.
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