Charles River Labs calls $185 million 3.5% convertibles

By Caroline Salls

Pittsburgh, March 28 - Charles River Laboratories International Inc. said it will redeem all $185 million of its 3.5% senior convertible debentures due Feb. 1, 2022 on April 19.

The debentures can be converted into shares of the company's common stock at a conversion price of $38.87 any time before the close of business on April 18.

The company will pay all remaining principal balances of the debentures that have not been converted into common stock plus the 0.875% prepayment premium and interest accrued up to but excluding the redemption date.

Charles River Laboratories stock was selling at $47.16 Monday afternoon.

Charles River Laboratories is a Wilmington, Mass.-based global provider of solutions that advance the drug discovery and development process.

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