Tyco says $2.4 billion convertibles put back to company

New York, Feb. 13 - Tyco International Ltd. said holders put back $2,421,126,000 principal amount of the zero-coupon convertible debentures due Feb. 12, 2021 issued by its Tyco International Group SA subsidiary.

The put option expired at 5.00 p.m. ET on Feb. 12.

Tyco will pay $764.15 per $1,000 principal amount at maturity of the convertibles for a total of $1,850,103,433.

As of Jan. 13 Tyco had $2,422,050,000 principal amount at maturity of the convertibles outstanding.

Seacor Smit increases securities repurchase program

New York, Feb. 13 - Seacor Smit Inc. said its board of directors increased its previously announced securities repurchase program by $25 million for a total availability of $52.8 million.

The program covers the Houston oil and gas support vessel operator's common stock, 5 3/8% convertible subordinated notes due 2006, 7.2% senior notes due 2009 and 5 7/8% senior notes due 2012.

Securities may be bought back through open-market purchases, private transactions or otherwise.

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