Veritas Software interest rate on convertibles increased 0.25% in January

By Ted A. Knutson

Washington, April 6 - Veritas Software Corp. said its $520 million in principal amount of 0.25% convertible notes began to accrue additional interest at a rate of 0.25% per annum Jan. 30 as a result of the company's registration statement having been suspended beyond the firm's permitted grace period.

The notes will continue to pay the higher interest until the suspension is lifted. If the suspension is not gone by April 30, the total interest increase for the notes will go to 0.50%.

Mountain View, Calif.-based Veritas made the statement in a 10-K filing with the Securities and Exchange Commission.

© 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.