Vector extends maturity of $25 million convertibles to Feb. 15, 2015

6.75% variable-rate convertibles sold to Frost Nevada on May 11, 2009

By Devika Patel

Knoxville, Tenn., Nov. 17 – Vector Group Ltd. amended the terms of its $25 million of remaining 6.75% variable-interest senior convertible note due 2014 on Nov. 14, according to an 8-K filed Monday with the Securities and Exchange Commission.

The note’s maturity has been extended to Feb. 15, 2015 from Nov. 15, 2014.

The $50 million note was sold to Frost Nevada Investments Trust on May 11, 2009, and $25 million of the note has already been converted into common stock at $0.10 per share.

Vector is a Miami-based holding company that indirectly owns Liggett Group LLC and Vector Tobacco Inc. and directly owns New Valley LLC.

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