Life Technologies calls all $450 million of its 1.5% convertibles

By Ashley Montgomery

Kansas City, Kan., Jan. 13 - Life Technologies Corp. issued a notice of redemption for all of its $450 million of 1.5% convertible senior notes due 2024, according to a company news release.

The redemption date is Feb. 15.

The notes are convertible until 5 p.m. ET on Feb. 14 at a conversion rate of 19.603 shares of common stock per $1,000 principal amount, which is equivalent to a conversion price of $51.01.

The company's stock closed at $46.07 (Nasdaq: LIFE) on Thursday.

U.S. Bank, NA (800 934-6802) is the trustee.

Life Technologies is a biotechnology company based in Carlsbad, Calif.

© 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.