Provident Energy to redeem 10.5% convertibles

New York, April 26 - Provident Energy Trust said it will redeem its 10.5% convertible unsecured subordinated debentures due 2007 on May 31.

The Calgary, Alta., owner of oil and gas production and midstream services businesses will pay C$1,050 per C$1,000 principal amount plus accrued interest to May 30.

Up to 6:30 p.m. ET on May 30, holders can convert the securities into trust units at a price of C$10.70. Provident stock closed at C$12.44 Tuesday.

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