Lucent to pay upcoming put on convertibles in cash

New York, May 21 - Lucent Technologies Inc. said it will pay the upcoming put on its 8% subordinated convertible debentures due 2031 in cash.

The securities are putable on Aug. 2. Holders can exercise the put through the close of business on July 28.

The Murray Hill, N.J., telecommunications equipment company said it has $817 million principal amount of the convertibles outstanding.

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