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PMI Group calls 2.5% convertible debentures
By Laura Lutz
Des Moines, Sept. 27 - The PMI Group, Inc. announced that it will redeem its outstanding 2.5% senior convertible debentures due 2021 on Oct. 27.
Holders may convert their notes into cash and common shares of PMI at any time before close of business on Oct. 25.
The company will redeem the unconverted notes for the principal amount plus accrued interest to the redemption date.
The company is calling both the $341.478 million principal amount of the notes that it issued upon completion of an exchange offer in August and the $18.414 million principal amount of the notes that were not exchanged in the offer.
The PMI Group is a Walnut Creek, Calif.-based provider of credit enhancement products.
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