CKE Restaurants holders convert remaining 4% convertibles ahead of redemption

By Susanna Moon

Chicago, Oct. 3 - CKE Restaurants, Inc. investors converted all $15.17 million principal amount of outstanding 4% convertible subordinated notes due 2023, according to an 8-K filing with the Securities and Exchange Commission.

Holders could convert the notes through Tuesday, the last trading day before the proposed redemption.

The notes were converted into 1,787,000 common shares.

CKE issued $90 million of the notes in an upsized deal on Sept. 29, 2003.

The conversion price was $8.89.

The company's stock (NYSE: CKR) closed at $10.60 on Tuesday.

CKE is a Carpinteria, Calif., owner, operator, franchiser and licenser of quick-service restaurants.

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