Itron to redeem remaining $38.8 million 2.5% convertibles due 2026

By Toni Weeks

San Diego, Aug. 25 - Itron Inc. will fully redeem its remaining $38.8 million of 2.5% convertible senior subordinated notes due 2026 on Sept. 30, according to a press release.

The redemption will be financed with cash and available liquidity under the company's revolving credit facility.

"I am very pleased with our overall efforts to strengthen our balance sheet and liquidity," senior vice president and chief financial officer Steve Helmbrecht said in the release. "The redemption of the remaining convertible notes reduces our overall cost of debt, simplifies our capital structure and eliminates potential future share dilution."

Liberty Lake, Wash.-based Itron provides smart metering, data collection and utility software systems to electric, gas and water utilities.

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