Holcim to retire 1%, zero-coupon convertibles

By Susanna Moon

Chicago, June 12 - Holcim will redeem both series of outstanding convertible bonds due 2012 and 2017, according to a press release.

The redemption date is July 13.

Holcim has CHF 131.16 million outstanding 1% convertibles due 2012 and $22.021 million outstanding zero-coupon convertibles due 2017.

The bonds are callable after June 10. With more than 90% of the issued U.S. bonds converted, Holcim said it is exercising its right to call the remaining bonds.

Holders may exercise their conversion rights until the close of business on July 4 for the U.S. bonds or until 6 a.m. ET on July 4 for the Swiss bonds.

Holcim is a cement company based in Zurich, Switzlerland.

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