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HCC says $49,000 convertibles put back to company
New York, Sept. 4 - HCC Insurance Holdings, Inc. said $49,000 of its 2% convertibles notes due 2021 were put back to the company on Sept. 1.
The Houston insurance company said in a filing with the Securities and Exchange Commission it paid for the securities in cash, as previously announced.
HCC priced $172.5 million of the convertibles on Aug. 20, 2001. They are putable at par plus accrued interest on Sept. 1, 2002, 2004, 2006, 2008, 2011 and 2016.
They convert into HCC stock at $32 per share. HCC stock closed at $23.25 on Tuesday.
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