Emco to redeem 6½% convertibles

New York, April 8 - Emco Ltd. said it will redeem all its outstanding 6½% convertible unsecured subordinated debentures due July 4, 2007.

The securities will be redeemed on May 9 at par plus accrued interest of C$22.79 per C$1,000 principal amount.

The London, Ont. building products manufacturer and distributor said the redemption follows completion of its acquisition by 2022841 Ontario Inc.

The company currently has C$69.11 million of the convertibles outstanding.

Interpublic says 99.79% of convertibles tendered

New York, April 8 - Interpublic Group of Companies, Inc. said $700.5 million principal amount at maturity or 99.79% of its zero-coupon convertible senior notes issued in December 2001 were validly tendered and not withdrawn in its recent offer.

The New York advertising and marketing company will pay $829.88 per $1,000 principal amount at maturity for the notes, equivalent to a total of $581.3 million in cash.

The offer expired at midnight ET on April 4.

Salomon Smith Barney Inc. was dealer manager for the offer and Mellon Investor Services LLC was information agent and depositary.

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