| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Tenders > News item |
Affiliated Managers Group calls all 5.1% convertible trust preferreds
By Toni Weeks
San Luis Obispo, Calif., Feb. 13 - Affiliated Managers Group, Inc. issued a call to redeem all $291 million principal amount of its 5.1% convertible trust preferred securities, according to an 8-K filing with the Securities and Exchange Commission.
The securities will be redeemed at par plus accrued interest, including contingent interest, on March 31.
The notes may be converted at any time before 5 p.m. ET on March 28.
The conversion rate is 0.3333 shares of common stock per $50.00 principal amount of trust preferreds, equivalent to a conversion price of $150.015 per share.
The Prides Crossing, Mass.-based asset management company's stock closed at $194.76 (NYSE: AMG) on Feb. 12.
U.S. Bank NA is the trustee.
© 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.