Inco to redeem 7¾% convertibles on Oct. 27

New York, Sept. 26 - Inco Ltd. said it will redeem its 7¾% convertible debentures on Oct. 27.

The Toronto-based mining company said it will pay par for the securities plus accrued interest to the redemption date.

The debentures can be converted into stock at a price of $38.25 per share. Inco stock closed at $36.90 on Friday.

Funding for the redemption will come from Inco's recent offering of $300 million 5.7% debentures due 2015.

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