RadioShack to replace revolver with convertibles proceeds

By Sara Rosenberg

New York, Aug. 11 - RadioShack Corp. plans to replace its $300 million revolving credit facility, which is due in June 2009, using proceeds from a $300 million convertible senior notes offering, according to a news release.

Remaining proceeds from the offering will be used to pay the net cost of convertible note hedge and warrant transactions, and to repurchase shares of its common stock.

RadioShack is a Fort Worth, Texas-based retail seller of consumer electronic goods and services.

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