Student Transportation to redeem C$20.63 million of 7.5% convertibles

By Tali David

Minneapolis, Oct. 3 - Student Transportation Inc. will redeem its C$20,632,000 of outstanding 7.5% convertible subordinated unsecured debentures due Oct. 31, 2014 in full, according to a press release.

The convertibles will be redeemed at par plus accrued interest on Nov. 2.

The debentures are listed for trading on the Toronto Stock Exchange under the symbol "STB DB A" and may be converted in accordance with their terms into common shares of Student Transportation until Nov. 1.

Student Transportation will draw funds from its existing revolving line of credit to pay the redemption price for those debentures not converted prior to the redemption date.

Student Transportation is a Barrie, Ont.-based school bus transportation services company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.