Checkpoint Systems calls $23.57 million of 5¼% convertibles

Pittsburgh, Sept. 30 - Checkpoint Systems Inc. will redeem its $23.57 million of remaining 5¼% convertible subordinated debentures due 2005, according to a company news release.

Holders may convert their debentures into Checkpoint common stock before 5 p.m. ET on Dec. 9 at a conversion price of $18.375 per share.

Checkpoint stock closed at $15.57 Thursday.

The redemption will be funded by cash flow from operations and borrowings under the company's revolving credit facility.

Checkpoint is a Thorofare, N.J., manufacturer and marketer of labeling systems.

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