ACS says 99.9% of 3.5% notes converted ahead of redemption

New York, Feb. 27 - ACS said holders of 99.9% of its outstanding 3.5% convertible subordinated notes due 2006 exchanged their securities for stock ahead of the redemption on Feb. 27.

As a result, the Dallas computer services company issued 7.29 million shares of class A common stock.

ACS announced the redemption on Jan. 27, saying it would pay 101.4% of par plus accrued interest.

As of Sept. 30, ACS had $317.0 million of the convertibles outstanding, according to a 10-Q filing with the Securities and Exchange Commission.

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