Labor Ready to sell $75 million of new convertibles notes

Nashville, Tenn., June 6 - Labor Ready Inc. announced it intends to issue $75 million of five-year convertible subordinated notes in the Rule 144A market.

There is a $15 million greenshoe.

Lehman Brothers is lead manager for the offering.

The Tacoma, Wash.-based temporary employment firm's shares closed Thursday down $1.70 to $7.20.

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