WebMD aims to redeem all $188 million 1.75% convertibles due 2023

By Devika Patel

Knoxville, Tenn., May 20 - WebMD Health Corp. said it plans to redeem all $188 million of its remaining 1.75% convertible subordinated notes due 2023 at par plus interest to, but not including, June 21, the redemption date.

The notes may also be converted at any time before 5 p.m. ET on June 18 at a conversion rate of 28.8759 shares per $1,000 in notes, which translates to an effective conversion price of approximately $34.63 per share. The closing price of the shares (Nasdaq: WBMD) was $44.49 on May 20.

New York-based WebMD provides health information services through its online portals and publications.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.