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SoftBank to redeem remaining 1.75% convertibles due 2014 at par
By Marisa Wong
Madison, Wis., May 9 - SoftBank Corp. said it will redeem all of its outstanding 1.75% convertible bonds due 2014.
As of March 31, about ¥49.99 billion of the original ¥50 billion bonds remained outstanding.
The convertibles will be redeemed on June 27 at par plus accrued interest to the redemption date.
The company said it exercised the early redemption option, because its shares closed at or above 150% of the conversion price on each of the 30 consecutive trading days prior to May 2.
SoftBank is a Tokyo-based telecommunications firm.
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