Amazon.com calls $150 million 4.75% convertibles, announces $500 million repurchase program

New York, Jan. 27 - Amazon.com Inc. said it will redeem $150 million principal amount of its 4.75% convertible subordinated notes due 2009 on Feb. 26.

The Seattle online retailer will pay 102.375% of par plus accrued interest for the securities.

Following the redemption, Amazon.com will have $900 million of the convertibles outstanding.

Holders will be able to convert the notes into Amazon.com common stock up to Feb. 25 at a price of $78.0275. Amazon stock closed at $55.74 Tuesday.

In addition to the redemption, Amazon.com said its board of directors has authorized a debt repurchase program for up to $500 million of its outstanding 4.75% convertible subordinated notes due 2009 and 6.875% convertible subordinated notes due 2010. Buybacks may be in the open market or privately negotiated transactions.

© 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.