Logitech to redeem 1% convertible bonds due 2006

By Jennifer Chiou

New York, Sept. 1 - Logitech International said it has called for early redemption all its outstanding 1% convertible bonds due June 8, 2006.

The redemption date for the CHF 169.8 million of bonds is Nov. 11.

The company, which will pay a redemption price of CHF1,048.37 per CHF1,000 principal amount of bonds, said it expects bondholders to convert their bonds into Logitech stock.

Investors may convert their bonds any time before 10 a.m. ET on Nov. 4 into 32.05128 Logitech shares for each CHF 1,000 principal amount, a conversion price of CHF 31.20 per share.

Based in Romanel-sur-Morges, Switzerland, Logitech designs, manufactures and markets personal interface products for personal computers. The company's stock closed up $0.75 at $38.27 on Thursday. The stock had closed at CHF 46.50 on Wednesday.

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