Conversion Right Triggered on EnPro's Convertible Senior Debentures

Loading...
Loading...
EnPro Industries, Inc.
NPO
today announced that commencing July 1, 2011, the company's $172,500,000 aggregate principal amount of 3.9375% Convertible Senior Debentures due 2015 will be convertible by holders of the Debentures. This conversion right has been triggered because the closing price per share of EnPro's common stock has exceeded $43.93, or 130% of the conversion price of $33.79, for at least 20 trading days during the 30 consecutive trading day period ending on June 30, 2011. The Debentures will continue to be convertible until September 30, 2011, and may be convertible thereafter, if one or more of the conversion conditions specified in the Indenture, dated as of October 26, 2005, by and between EnPro Industries, Inc. and U.S. Bank National Association (as successor to Wachovia Bank, National Association), is satisfied during future measurement periods.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsFinancingOfferingsIndustrial MachineryIndustrials
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...