Genesco agrees to convert $5 million 4.125% convertibles into shares, to call remainder on Dec. 3

By Susanna Moon

Chicago, Nov. 2 - Genesco Corp. said it entered into conversion agreements with holders of $5 million of its 4.125% convertible subordinated debentures due June 15, 2023.

The holders will convert each $1,000 principal amount of the notes into 49.8462 common shares in exchange for the early payment of interest from the last interest payment date through Nov. 4, or about $16.04 on each note, for a total payment of $80,208.

After completion of the conversions, $24,815,000 principal amount of the notes remains outstanding.

A notice of redemption will be issued on Tuesday to holders of the balance of the debentures for redemption on Dec. 3.

Genesco is a Nashville, Tenn.-based footwear and headwear company.

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