Life Tech to Redeem Convertible Senior Notes | GenomeWeb

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Life Technologies said on Friday it intends to redeem all of the outstanding 1.5 percent convertible senior notes due 2024.

The company intends to redeem the all of the notes on Feb. 15, and said that as of Dec. 31, 2011, $450 million in aggregate principal amount of the notes were outstanding. The notes are convertible prior to Feb. 14, 5 p.m. EST at a rate of 19.603 shares of common stock for each $1,000 principal amount of the notes surrendered.

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