OSI Pharmaceuticals calls its remaining 3.25% convertibles due 2023

By Susanna Moon

Chicago, March 22 - OSI Pharmaceuticals, Inc. said it will redeem all of its $60,467,000 outstanding 3.25% convertible senior subordinated notes due 2023.

The company said it will pay holders par for the notes plus accrued interest to 5 p.m. ET on April 21, the redemption date.

At any time before the redemption time, holders may convert their notes into OSI common stock at a price of $50.02 per share, or 19.9925 shares per $1,000 principal amount of notes.

The company's shares closed at $58.94 (Nasdaq: OSIP) on Friday.

The Bank of New York Mellon (800 438-5473) is the trustee.

The notes were issued in September 2003.

OSI Pharmaceuticals is a pharmaceutical company based in Melville, N.Y.

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