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CSX: Only $1,000 convertibles put back; yield to maturity reset to 1%
By Angela McDaniels
Tacoma, Wash., Oct. 31 - CSX Corp. said it was required to purchase only $1,000 original principal amount at maturity of its zero-coupon convertible debentures due Oct. 30, 2021.
The convertibles were putable on Oct. 30. The company paid the accreted value of $945.12 per $1,000 original principal amount at maturity, according to a company press release.
As a result, $4.4 million principal amount at maturity of the convertibles remain outstanding.
The company also said the yield to maturity of the convertibles was reset to 1% per year on Sunday.
CSX is a railroad and transportation company based in Jacksonville, Fla.
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