Liz Claiborne holder agrees to convert $20.8 million 6% convertibles

By Tali David

Minneapolis, Dec. 16 - Liz Claiborne, Inc. said a holder agreed to convert $20.8 million of its 6% convertible senior notes due 2014.

On Dec. 21, the holder will convert all of the convertibles into 6,163,221 shares of the company's common stock, according to an 8-K filing with the Securities and Exchange Commission.

The company will pay accrued interest through the settlement date in cash.

Liz Claiborne is a New York-based designer and marketer of retail-based brands.

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