LSB repurchases $2.5 million in 5.5% convertible senior subordinated debentures due 2012

By Devika Patel

Knoxville, Tenn., May 20 - LSB Industries, Inc. bought back $2.5 million of its 5.5% convertible senior subordinated debentures due 2012 on May 15, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The company paid $2.075 million plus accrued interest, which was funded from working capital.

As a result of the buyback, $32.3 million of the notes remain outstanding.

The notes are convertible at 36.4 common shares per $1,000 principal amount of the notes, or at a rate of $27.47 per share. The closing price of the company's stock (NYSE: LXU) was $13.69 per share on May 14.

LSB is an Oklahoma City-based manufacturer of climate-control products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.