FEI holders put nearly all zero-coupon convertibles

By Angela McDaniels

Tacoma, Wash., June 10 - FEI Co. said it received puts for $148.9 million of its $150 million zero-coupon convertible subordinated notes due 2023.

Noteholders will receive a premium of 0.25%.

The company said it will use existing cash balances to repurchase the put convertibles on June 16 and then retire them.

The retirement of the convertibles improves the company's debt-to-total-capital ratio to 18% from 34%, according to a company news release.

FEI is a Hillsboro, Ore.-based producer of imaging technologies and applications for 3D characterization, analysis and modification/prototyping.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.