Coeur d'Alene Mines to redeem remaining 9% convertibles

New York, Nov. 25 - Coeur d'Alene Mines Corp. said it will redeem its remaining $4.6 million of outstanding 9% senior convertible notes due 2007.

The Coeur d'Alene, Idaho, silver mining company will pay $13.49 million of cash for the securities, representing market value, accrued interest and make-whole interest.

Funding will come from a sale of common stock. The company has filed a prospectus supplement with the Securities and Exchange Commission to offer 3,149,225 shares.

Coeur d'Alene noted that the combined transactions will result in the issuance of 3% fewer shares than if the convertibles had been held to maturity.

On Oct. 28, Coeur d'Alene Mines said it would redeem its $4.9 million of remaining 6 3/8% convertible subordinated debentures due Jan. 31, 2004 on Nov. 28 at par plus accrued interest.

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