Halliburton calls 3 1/8% convertibles due 2023

By Julie A. Miller

Washington, July 31 - Halliburton Co. has called for redemption its 3 1/8% convertible senior notes due July 15, 2023.

On the redemption date of Aug. 29, the company will pay the par amount of the notes, which totaled $1.2 billion as of June 30, together with interest accrued after July 16, Halliburton said in a form 8-K filed with the Securities and Exchange Commission.

Up until the close of business on Aug. 28, holders can convert each $1,000 principal amount into 53.4069 shares of common stock. Those who exercise this option will receive the principal amount in cash, Halliburton said. The company has the option to settle any amounts due in excess of the principal amount, which has ranged between $1.6 billion and $2.0 billion since June 30, by delivering stock, cash or a combination of stock and cash.

Houston-based Halliburton provides products and services to the energy industry.

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