Sunrise Senior Living changes conversion rate for 5% convertibles

By Marisa Wong

Madison, Wis., Jan. 9 - Sunrise Senior Living, Inc. amended the conversion rate of its 5% junior subordinated convertible notes due 2041, according to an 8-K filing with the Securities and Exchange Commission.

Effective Jan. 9, holders may convert their notes into cash equal to $1,443.67 per $1,000 principal amount of notes in the case of a make-whole fundamental change or cash equal to $1,338.12 per $1,000 principal amount otherwise.

The senior living services provider is based in McLean, Va.

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