Sybase to redeem all $413.7 million of 1.75% convertibles due 2025

By Devika Patel

Knoxville, Tenn., Feb. 1 - Sybase, Inc. said it has called its remaining 1.75% convertible subordinated notes due 2025 for redemption on March 3. There is approximately $413.7 million of the convertibles outstanding.

The Dublin, Calif.-based wireless software company said it will buy back the notes at a redemption price of par plus accrued interest up to but excluding the redemption date. The interest will be equal to $0.4375 per $1,000 in notes.

The redemption will be funded from available cash.

U.S. Bank NA (213 615-6043) is the conversion and paying agent.

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