McAfee calls $345 million 5.25% convertibles

Pittsburgh, July 28 - McAfee Inc., formerly Network Associates Inc., will redeem all of its $345 million outstanding 5.25% convertible subordinated notes due 2006 at a price of $1,013.7083 per $1,000 principal amount, according to a company news release.

The redemption date is Aug. 19.

Holders may convert their notes into common stock until 5 p.m. ET on Aug. 18 at a price of $18.07 per share, or 55.34 shares of stock per $1,000 principal amount of the notes, the release said. Cash will be paid in place of fractional shares.

McAfee's stock closed at $16.04 on Monday.

McAfee is a Santa Clara, Calif., computer security solutions company.

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