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Voestalpine calls all 1.5% 2005/2010 convertible bonds for redemption
By Devika Patel
Knoxville, Tenn., Dec. 4 - Voestalpine AG said it has called for redemption all of its 1.5% 2005/2010 convertible bonds issued in July 2005 on Jan. 29.
The notes will be redeemed at par plus interest to the redemption date.
The bonds may be converted up to the end of the day on Jan. 25. On the basis of the current share price (Pink Sheets: VLPNF) of $38.74 at close on Dec. 3, the company assumes that the majority of the convertible bondholders will exercise their conversion rights.
Based in Linz, Austria, Voestalpine makes steel for the automobile, building, railway and household appliances industries.
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