UniSource redeems $1.54 million of 4.5% senior notes, holders convert $33.46 million of notes

By Marisa Wong

Madison, Wis., Jan. 13 - UniSource Energy Corp. redeemed $1,544,000 of its outstanding 4.5% convertible senior notes due 2035 on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

On Dec. 28, the company called $35 million of its $150 million of outstanding convertible notes for redemption on Jan. 12 at par plus accrued interest.

Rather than having their notes redeemed, the holders of $33,456,000 of the $35 million notes selected for redemption converted their notes on or before Jan. 11 into 963,951 shares of UniSource stock. The remaining $1,544,000 of notes was redeemed for cash.

UniSource is a Tucson, Ariz.-based electric utility.

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