News America holders put back nearly all 0.75% exchangeables; remainder to be redeemed

By Jennifer Chiou

New York, March 15 - News America Inc. announced that holders put back 98.6% of the company's 0.75% senior exchangeable BUCS, all of which were redeemed on March 15.

In the put, the company said it elected to pay for the BUCS entirely in cash at a purchase price of $1,013.48 per security plus accrued interest. As a result, the company paid $1.65 billion.

The remaining $22.77 million of securities is subject to mandatory redemption on April 14.

The company will pay a redemption price of $1,007.53 per security plus accrued interest.

As already reported, the exchangeables also had put dates on March 13, 2013 or March 15, 2018.

The Bank of New York Mellon is the trustee and paying agent.

The securities were issued on March 21, 2003.

The subsidiary of media conglomerate News Corp. is based in New York City.

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