Clarke to redeem $12 million 6% convertibles due 2018 on March 3

By Susanna Moon

Chicago, Jan. 31 - Clarke Inc. said it will redeem some of its $51,637,300 outstanding 6% convertible unsecured subordinated debentures due Dec. 31, 2018.

The company will redeem $12 million, or about 23%, of the convertibles on March 3, according to a press release.

Clarke said it will pay par plus accrued interest up to but excluding the redemption date, for a total purchase price of $1,010.19 per $1,000 principal amount.

Funding for the offer will come from available funds.

Halifax, N.S.-based Clarke is a diversified group with businesses in freight transportation, shipping, real estate and information technology.

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