Textron's 4.5% senior notes due 2013 convertible through March 31

By Marisa Wong

Madison, Wis., Dec. 30 - Textron Inc. announced that its remaining 4.5% convertible senior notes due 2013 are convertible through March 31.

Holders may elect to convert some or all of their notes by the end of the first quarter, because the price of Textron stock exceeded the conversion threshold price of $17.06 per share, or 130% of the conversion price of $13.125 per share, for at least 20 out of the 30 consecutive trading days ended Dec. 30.

The notes are convertible into common stock, cash or a combination of cash and shares.

The company said that conversion of the notes after March 31 is contingent upon conditions stated in the indenture for the notes.

The Bank of New York Mellon Trust Co., NA is the trustee of the notes. Bank of New York Mellon Corp. is the conversion agent.

Textron is a Providence, R.I.-based company with aircraft, defense and intelligence, industrial and finance businesses.

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