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BlackRock issued shares, cash for $148 million of 2.625% convertibles
By Jennifer Chiou
New York, March 10 - BlackRock, Inc. issued common shares and paid cash to holders of $148 million of its 2.625% convertible debentures due 2035 who elected to convert their securities in January and February, according to a 10-K filed with the Securities and Exchange Commission.
On Feb. 15, 2009, the debentures became convertible at the option of the holder into cash and shares at any time prior to maturity.
During 2009, holders of $7 million of the convertible debentures elected to convert their holdings into cash and shares.
The debentures were issued in February 2005.
BlackRock is an investment management firm based in New York.
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