Roper Industries receives consents to amend convertibles

New York, Dec. 7 - Roper Industries Inc. said it has received consents to amend its senior subordinated convertible notes due 2034.

The company was asking for authorization to change how it pays the conversion value. Instead of stock only, as at present, Roper will now be able to pay cash up to the accreted principal amount and the remainder in either cash or stock.

Holders who gave consents will receive a fee of $1.00 per $1,000 principal amount at maturity, equivalent to 25 basis points on the accreted principal amount of $395 as of Dec. 6.

The expiration was at 5 p.m. ET on Dec. 6. The solicitation was announced on Nov. 19.

The solicitation was dependent on receiving consents from holders of a majority of the notes.

Global Bondholder Services Corp. is the information agent (866 389-1500). Merrill Lynch & Co. is the solicitation agent (888 654-8637).

Roper Industries is a Duluth, Ga., diversified industrial company.

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