Reebok International has completed its offering of $350 million of 2.0% Convertible Debentures due 2024, which includes the exercise by the initial purchasers of their option to purchase an additional $50 million aggregate original principal amount of debentures.
The company also has issued a notice of redemption to redeem the $250 million outstanding principal amount of its 4.25% convertible debentures due 2021 on May 17, 2004. The redemption price on May 17, 2004 is equal to 102.125% of the principal amount of the convertible debentures, together with accrued and unpaid interest, if any, up to but not including the redemption date.
Holders can either elect to convert their convertible debentures into shares of the company's common stock or receive the redemption price in cash. If holders receive the redemption price in cash, the company will fund the redemption with cash on hand.
