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Quicksilver holders may put back 1.875% convertibles at par on Nov. 1
By Susanna Moon
Chicago, Sept. 30 - Quicksilver Resources Inc. said holders may put the company's $150 million of 1.875% convertible subordinated debentures due 2024 at par in cash.
Holders may put their notes until the close of business on Oct. 31. Put notices may be withdrawn until Oct. 31.
The company will pay interest on the Nov. 1 interest payment date to holders of record on Oct. 15. The put price does not include accrued interest.
The conversion rate is 65.4418 Quicksilver shares per $1,000 principal amount of notes, which is equivalent to a conversion price of $15.28. The company's common stock closed at $7.58 (NYSE: KWK) on Sept. 30.
Bank of New York Mellon (attn: William Buckley, 212 815-5788 or fax 212 298-1915) is the trustee and paying agent.
Quicksilver Resources is a Fort Worth-based independent oil and gas company.
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