CBIZ holders put back $39.25 million 3.125% convertibles to company

By Toni Weeks

San Diego, June 8 - CBIZ, Inc. said the holders of $39.25 million of its $40 million 3.125% convertible senior subordinated notes due 2026 exercised the put option on the securities.

The securities were redeemed on June 1 at par plus accrued interest using available funds from the company's existing $275 million unsecured credit facility. CBIZ may elect to redeem the remaining $750,000 of notes.

Following the redemption, the balance on the credit facility is $146.9 million, according to a company press release.

Cleveland-based CBIZ provides financial and business services that help its clients better manage their finances and employees.

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