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Holcim converts 65% of bonds due 2017 into 2.4 million shares
By Jennifer Chiou
New York - Holcim Capital Corp. Ltd. said it issued 2,424,001 shares in exchange for $237.349 million or 65% of its $615.865 million of zero-coupon convertible bonds due 2017.
The conversion offer ended at 11 a.m. ET on Oct. 2.
For each $1,000 principal amount, the company paid $39.57, comprised of a premium to parity of $24.57 and an offer spread of $15.00.
After settlement of the offer, expected to be Oct. 9, $130.054 million of bonds will remain outstanding.
Based in Zurich, Switzerland, Holcim is a cement company.
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