CommScope subsidiary Andrew to redeem 3.25% convertibles due 2013

By Devika Patel

Knoxville, Tenn., July 2 - CommScope, Inc.'s subsidiary, Andrew Corp., announced it has called all its 3.25% convertible subordinated notes due 2013 for redemption on Aug. 20.

As of July 1, the company said it had $105,000 of the notes outstanding.

Andrew will pay $1,000.45 for every $1,000 in notes, which is equal to par plus interest up to, but excluding, the redemption date.

Each $1,000 in notes may be converted into $986.15 in cash and 2.304159 common shares until the close of business on Aug. 19.

Based in Hickory, N.J., CommScope provides infrastructure technology for communications networks.

© 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.