St. Mary Land & Exploration calls 5.75% convertible notes

By Laura Lutz

Washington, Feb. 20 - St. Mary Land & Exploration Co. announced that it plans to redeem all of its outstanding $100 million outstanding principal amount of 5.75% senior convertible notes due 2022.

Holders may choose to convert the notes into common stock until 5 p.m. ET on March 16. The conversion price will be $13.00 per share, or 76.923 shares per $1,000 principal amount of notes. St. Mary stock closed at $36.97 Tuesday.

Any notes that are not converted notes will be redeemed for the principal amount plus accrued interest on March 20.

St. Mary is a Denver-based oil and gas exploration and production company.

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