L-3 Announces Conversion Rate Adjustment for Its 3% Convertible Contingent Debt Securities ("CODES") Due 2035
L-3 Communications Holdings (NYSE: LLL) announced today that it has adjusted the conversion rate for its 3% Convertible Contingent Debt Securities (CODES) due 2035 (CUSIP Numbers: 502413AW7 and 502424AE4; ISIN Numbers: US502413AW73 and US502424AE49) (the “Securities”) in connection with the regular quarterly dividend of $0.50 per share of the Company's Common Stock paid on March 15, 2012 and the regular quarterly dividend of $0.50 per share of the Company's Common Stock expected to be paid on June 15, 2012.
The new conversion rate is 10.4755 shares of Common Stock of the Company per $1,000 principal amount of the Securities, effective for conversions on or after May 17, 2012.
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