IKON calls 5% convertibles

New York, Sept. 21 - IKON Office Solutions, Inc. said it will redeem its 5% convertible subordinated notes due 2007 on Oct. 21.

The Malvern, Pa., supplier of office equipment will pay 102% of par plus accrued interest up to the redemption date.

Holders can convert the notes into stock up to the close of business on Oct. 21 at a price of $15.03 per share. IKON stock closed at $9.65 Wednesday.

Funding for the redemption will come from IKON's recent sale of $225 million of 7¾% senior unsecured notes due 2015.

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