Leucadia holders agree to convert $118.78 million 3.75% convertibles

By Angela McDaniels

Tacoma, Wash., May 28 - Leucadia National Corp. issued 5,171,657 shares of common stock upon the conversion of $118.78 million principal amount of its 3.75% convertible senior subordinated notes due 2014, according to an 8-K filing with the Securities and Exchange Commission.

The conversions were made in a series of privately negotiated transactions to induce conversion between May 18 and Wednesday. The notes were convertible at a rate of 43.5414 shares per $1,000 principal amount.

Specifically, holders converted $11.70 million of the notes on May 18, $26.07 million on May 19, $15.43 million on May 20, $8.88 million on May 21, $41.60 million on May 22, $9.23 million on May 26 and $5.88 million on May 27.

Leucadia is based in New York and engages in manufacturing, telecommunications, property management and services, gaming entertainment, real estate activities, medical product development and winery operations.

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