EDS expects to pay October put on convertibles from cash reserves

New York, March 13 - Electronic Data Systems Corp. said it plans to finance the upcoming put on its zero-coupon convertible notes issued in October 2001 using cash reserves.

The Plano, Texas company said in a filing with the Securities and Exchange Commission that it expects that holders of the notes will exercise the put option in October. The total redemption price, assuming they do so, will be $772 million.

EDS originally issued $779 million proceeds, $1 billion face amount of the notes, which mature in 2021.

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