Dobson to redeem all $299 million 10 7/8% notes due 2010

By Jennifer Chiou

New York, Sept. 6 - Dobson Communications Corp. said it plans to redeem all $299 million of its 10 7/8% senior notes due 2010 using the proceeds of two new offerings.

The proposed issues are $150 million of senior floating-rate notes due 2012 and $150 million of senior convertible debentures due 2025.

The Oklahoma City company may also offer a greenshoe option for up to an additional $30 million of convertible debentures.

The company will pay accrued interest and a redemption premium on its 10 7/8% notes.

Dobson added the offerings of floaters and convertibles are not conditioned upon each other.

The wireless phone services provider bought back $1 million of the 10 7/8% notes on Nov. 8, 2004.

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