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Southwest Airlines says 7% convertibles putable, will call remainder
New York, May 4 - Southwest Airlines Co. said that holders of its $5,472,000 of 7% convertible notes due 2023 can put the notes back to the company on June 6.
The redemption price will be par plus accrued interest up to but excluding the redemption date. Holders can exercise the option up to 5 p.m. ET.
Southwest also said it will call all the outstanding notes on June 21, also at par plus accrued interest up to but excluding the redemption date.
The airline also said that a "fundamental change" occurred on May 2 under the terms of the notes as a result of the closing of its acquisition of AirTran Holdings, Inc.
Southwest is a Dallas-based airline.
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