Bluegreen calls all $27.5 million convertibles

By Caroline Salls

Pittsburgh, Nov. 22 - Bluegreen Corp. will redeem all $27.5 million outstanding of its 8¼% convertible subordinated debentures due 2012 at a redemption price of par plus interest accrued through the Dec. 30 redemption date, according to a company news release.

Holders can convert their debentures prior to Dec. 16 into shares of Bluegreen's common stock at a price of $8.24 per share.

Bluegreen stock was at $13.52 Monday afternoon.

Bluegreen is a Boca Raton, Fla., company engaged in the acquisition, development, marketing and sale of vacation ownership resorts and residential homesites.

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