Roto-Rooter calls Chemed convertibles

New York, April 7 - Roto-Rooter Inc. said it will redeem the convertible trust preferred securities issued by Chemed Capital Trust on May 18.

The Cincinnati repair and maintenance service and healthcare company will pay par of $27.00 plus accrued distributions of $0.35 through the redemption date.

Up to 5 p.m. ET on May 17, holders can convert the preferreds into Roto-Rooter stock at the rate of 0.73 shares per preferred security, or a price of $37.00. Roto-Rooter stock closed at $53.75 Wednesday.

As of April 1, Roto-Rooter had 518,000 shares of the preferred stock outstanding, or $13.99 million principal amount.

© 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.