SPX to pay upcoming put on LYONs in cash

New York, April 8 - SPX Corp. said it will pay the upcoming put on its Liquid Yield Option Notes due 2021 in cash.

The securities are putable up to 5 p.m. ET on May 9 at the issue price plus accrued original issue discount.

The Charlotte, N.C., diversified manufacturer had the option to pay the put in cash, stock or a combination.

If all the LYONs are put back, SPX will pay $7.9 million.

SPX noted that the LYONs are not currently convertible.

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