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ShoLodge buys back $1.63 million convertibles in tender
New York, Aug. 29 - ShoLodge, Inc. said it bought back $1.631 million of its 7½% convertible subordinated debentures due May 2004 in its tender offer.
The Hendersonville, Tenn. company had been offering to buy up to $7 million of the securities at a price of $730 per $1,000 principal amount.
At July 30 there was $54 million of the convertibles outstanding of which $41.537 million was owned by the company.
When the tender was announced, ShoLodge said it was making the offer to reduce its debt.
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