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Roper Industries solicits consents to amend convertibles
New York, Nov. 19 - Roper Industries Inc. said it has begun a consent solicitation to amend its senior subordinated convertible notes due 2034.
The company is looking to change how it pays the conversion value. Instead of stock only, as at present, Roper wants to pay cash up to the accreted principal amount and the remainder in either cash or stock.
Holders who give consents will receive a fee of $1.00 per $1,000 principal amount at maturity, equivalent to 25 basis points on the accreted principal amount of $395 as of Dec. 6.
The expiration is 5 p.m. ET on Dec. 6.
The solicitation is dependent on receiving consents from holders of a majority of the notes.
Global Bondholder Services Corp. is the information agent (866 389-1500). Merrill Lynch & Co. is the solicitation agent (888 654-8637).
Roper Industries is a Duluth, Ga., diversified industrial company.
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