Credit Suisse may only acquire Cameron's 2.5% convertibles on June 29

By Marisa Wong

Madison, Wis., June 17 - Cameron International Corp. entered into an amendment to its repurchase plan with Credit Suisse Securities (USA) LLC on Friday. Under the amendment, Credit Suisse may repurchase up to $111 million of Cameron's 2.5% convertible senior notes due 2026 only on June 29, according to an 8-K filing with the Securities and Exchange Commission.

Under the original repurchase plan dated June 8, Credit Suisse could repurchase the securities beginning on June 29 and ending one day following the release of the company's earnings for the second quarter.

Earlier this month, the company announced that all of the notes will be redeemed on July 6 at a redemption price of par plus accrued interest.

The notes may be converted at any time prior to 5 p.m. ET on July 5.

Houston-based Cameron provides flow equipment products, systems and services to oil, gas and process industries.

© 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.