Seacor Smit calls $10 million of 5 3/8% convertibles

New York, July 1 - Seacor Smit Inc. said it will redeem $10 million of its $46.319 million outstanding 5 3/8% convertible subordinated notes due 2006.

The Houston, Texas operator of oil and gas support vessels said the securities will be redeemed at $1,023.90 per $1,000 principal amount plus accrued interest.

Holders will be able to convert the notes into 22.727 shares until 5.00 p.m. ET on July 30. Seacor Smit stock closed at $47.35 on Friday.

Notes not converted will be redeemed on July 31.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.