Robbins & Myers to redeem some 8% convertibles due 2008

By Jennifer Chiou

New York, May 19 - Robbins & Myers, Inc. announced the July 14 redemption of $10 million of its $40 million of 8% convertible subordinated notes due Jan. 31, 2008.

For each $1,000 principal amount, the company will redeem the notes at par plus $29.55 to account for accrued interest from March 1 to July 13.

Prior to 5 p.m. ET on July 13, holders may convert their notes at a price of $22.50 per share, or 44.44 Robbins & Myers shares per $1,000 principal amount. The company's stock closed up $0.16, or 0.66%, at $24.34 on May 19.

However, the company added, no interest for the period from March 1 to the date of conversion will be paid.

U.S. Bank NA is the trustee and paying agent.

The notes were issued on Feb. 10, 2003.

Dayton, Ohio-based Robbins & Myers supplies equipment and systems to the global pharmaceutical, energy and industrial markets.

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