Rewards Network holders put back $14.59 million of 3.25% convertibles

By Jennifer Chiou

New York, Oct. 15 - Rewards Network Inc. said it accepted all $14.59 million of its 3.25% convertible subordinated debentures due 2023 that were put back to the company by the 5 p.m. ET on Oct. 10 deadline.

The company paid par plus accrued interest up to Oct. 15, amounting to $14.83 million from its cash reserves.

The company said that $200,000 of debentures remains outstanding.

The company issued $70 million of the notes in October 2003. They are callable after five years and are putable in years five, 10 and 15.

LaSalle Bank NA was the paying agent.

Rewards Network is a Chicago-based provider of marketing services and frequent dining programs to the restaurant industry.

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