Church & Dwight holders convert most 5.25% debentures prior to redemption

By Devika Patel

Knoxville, Tenn., Aug. 19 - Church & Dwight Co., Inc. said it redeemed only $8,000 of its outstanding 5.25% senior convertible debentures due 2033 on Aug. 15.

The company said it had $99.89 million of debentures outstanding up to the final date for conversion, Aug. 14. On that date, most investors elected to convert their securities into 3,222,293 common shares.

Holders were permitted to convert their securities up until the close of business on Aug. 14 at the conversion rate of 32.26 common shares per $1,000 of debentures.

The company's shares (NYSE: CHD) closed at $61.56 on Aug. 14.

Church & Dwight paid $8,120 to redeem the remaining debentures.

The company announced July 11 that all of the debentures would be redeemed at 101.5% plus interest up to Aug. 15.

The Bank of New York Mellon was the paying agent.

Church & Dwight is a Princeton, N.J., manufacturer and marketer of personal care, household and specialty products.

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