Priceline.com amends 1% convertibles, 2.25% convertibles, requiring some payments in cash

New York, Dec. 13 - Priceline.com Inc. said it amended its 2.25% convertible senior notes due 2025 and its 1% convertible senior notes due 2010, eliminating the right to make some payments in stock.

For the 2.25% convertibles, Priceline will now be required to pay cash on a change of control instead of stock. In addition, any required make-whole premium will be paid in cash, not stock.

For the 1% convertibles, any requirement to buy back the securities will be in cash, not stock.

Norwalk, Conn.-based Priceline disclosed the changes in an 8-K filing with the Securities and Exchange Commission.

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