LSI calls 4¼% convertibles

New York, Aug. 19 - LSI Logic Corp. said it called its 4¼% convertible subordinated notes due 2004.

The Milpitas, Calif. chipmaker will redeem the securities on Sept. 18 at a price of $1,008.86 per $1,000 principal amount, made up of the redemption price of $1,008.50 plus $0.36 of accrued interest.

Holders can convert the notes up to 5.00 p.m. ET on Sept. 17 at a price of $15.6765 per share or 63.8 shares per $1,000 principal amount. LSI stock closed at $10.27 on Monday.

LSI Logic has $172 million of the notes outstanding.

Veritas says $17.6 million 1.856% notes converted, all 5¼% notes

New York, Aug. 19 - Veritas Software Corp. said holders of all $64.0 million of its 5¼% convertible subordinated notes due 2004 and $17.6 million of its 1.856% convertible subordinated notes due 2006 exchanged their securities for stock ahead of the redemption.

The remainder of the $405 million 1.856% convertibles were redeemed for $391.7 million of cash on Aug. 18.

The 5¼% notes were converted into 6.70 million shares while the $17.6 million 1.856% notes were converted into 492,000 shares.

Under its stock repurchase program, Veritas is authorized to buy back up to $300 million of stock plus the market value at the time of repurchase of shares issued on conversion of the 1.856% notes. Veritas said it expects to buy back the extra 492,000 shares.

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