Veritas 0.25% convertibles step up to 0.75% on delay in registration statement

New York, June 14 - Veritas Software Corp. said its 0.25% convertible subordinated notes due 2013 are now paying an extra 50 basis points of interest for a total of 0.75% because the registration statement allowing public trading has not yet been declared effective by the Securities and Exchange Commission.

The coupon stepped up by 25 basis points on Jan. 28 because the registration statement was not declared effective within 180 days. It added a further 50 basis points on April 27 because of an additional 90-day delay.

The Mountain View, Calif., storage software company issued $520 million of the convertibles in August 2003.

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