Georg Fischer calls 3.5% convertibles

By Jennifer Chiou

New York, June 22 - Georg Fischer AG said that its board decided to call the company's 3.5% convertible bond due 2008.

The company said the redemption date is Nov. 27.

Noteholders who convert by June 30 will benefit from a CHF 15 per share reduction from par. Otherwise the conversion period ends on Nov. 21.

Georg Fisher said that since conversion at share prices above CHF 253 is advantageous for convertible bondholders, it is expected that all securities will be converted, resulting in the issue of 0.6 million new shares. The company's stock closed at CHF 527.50 on Thursday.

The Schaffhausen, Switzerland, company said that by June 16, CHF 122 million of the originally issued CHF 152 million had been converted.

The Georg Fisher group is involved in manufacturing cast components in iron and light alloy for the vehicle industry, supplying systems made of plastics and metals as well as providing systems for the tool and mould making industry.

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