Clariant redeems CHF 300 million of 3% convertibles due 2014

By Tali David

Minneapolis, March 27 - Clariant AG completed the early redemption of CHF 300 million of its 3% convertible bond 2009-2014, according to a press release.

The convertibles were redeemed on March 20 with conversion rights into Clariant registered shares with a nominal value of CHF 3.70.

All of the convertible bondholders exercised their conversion rights, leading to a 36,188,114 registered-share increase, to a new total number of registered shares of 331,939,199.

Clariant makes specialty chemicals and is based in Muttenz, Switzerland.

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