Hasbro Inc. (NYSE: HAS) reported Tuesday it will redeem $132.2 million in outstanding 2.75 percent convertible senior debentures due 2021, according to Associated Press.
The securities will be redeemed on April 29 at a price of $1,011.31 per $1,000 principal amount of the securities.
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Any time before the close of business on April 27, holders of the securities can convert them to Hasbro stock at the value of 50 cents per share, or 46.2963 shares per $1,000 of principal amount of the securities.
Cash will be paid instead of fractional shares. Any securities not so converted will be automatically redeemed on April 29. Hasbro plans to fund the redemption with cash on hand.
Shares fell 17 cents to $39.05 at Tuesday’s close.
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