L-3 lifts conversion rate on 3% convertible debt securities due 2035

By Devika Patel

Knoxville, Tenn., July 29 - L-3 Communications Holdings, Inc. said that it increased the conversion ratio for its 3% convertible contingent debt securities due 2035 to 9.9862 shares per $1,000 principal amount of notes.

The adjustment is due to regular quarterly dividends paid to shareholders and is effective for conversions taking place on or after July 29.

L-3, based in New York, is an aircraft modernization and maintenance contractor and supplies technology and secure communications products to the Department of Defense, government intelligence agencies and aerospace contractors.

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