DaVita to redeem $200 million 7% convertibles

New York, July 16 - DaVita Inc. said it will redeem $200 million principal amount of its 7% convertible subordinated notes due 2009. The Torrance, Calif. dialysis services company currently has $345 million of the notes outstanding.

The notes will be redeemed on Aug. 15 at $1,042 per $1,000 principal amount plus accrued interest.

Up to 5.00 p.m. ET on Aug. 14, holders can convert the notes into DaVita stock at a price of $32.81 per share. DaVita stock closed at $28.35 Wednesday.

Thornburg to redeem 9.68% convertible preferreds

New York, July 16 - Thornburg Mortgage Inc. said it will redeem all 2.76 million outstanding shares of its series A 9.68% cumulative convertible preferred stock.

The redemption will be carried out by converting the securities into common stock.

The conversion date is 5.00 p.m. ET on Aug. 18.

Each share of preferred stock will convert into one common share.

Current preferred holders were paid the second quarter dividend on July 10 and will receive the third quarter stock dividend. No conversions will be accepted before the record date for the second quarter stock dividend to prevent holders from receiving both dividends.

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