Liberty International says £42.6 million convertibles converted, £15.1 million repurchased

New York, Jan. 1 - Liberty International plc said holders of £57.692 million of its 6.25% convertible subordinated bonds due 2006 exchanged their securities for stock ahead of the redemption of the securities.

The London real estate company repurchased a further £15.074 million.

The remaining £1.223 million were automatically converted on Wednesday, the redemption date.

Since Nov. 24, when Liberty International announced the call, it has issued 9.471 million shares, increasing the total outstanding to 321.778 million.

Liberty International announced the redemption on Nov. 24, saying it would pay par plus accrued interest.

Holders could convert the bonds into stock up to Dec. 17 for registered bonds or Dec. 24 for bearer bonds. The conversion price was £4.50 per share.

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