RPM's convertibles due 2033 will accrue extra interest

By Devika Patel

Knoxville, Tenn., May 13 - RPM International Inc. said its convertible notes due 2033 will accrue contingent cash interest at at least 1% of the average market price of the securities for the five trading days ended May 9.

The interest is payable for the period of May 14 through Nov. 13 and is in addition to the continued accrual of the original issue discount.

Contingent cash interest, which the company has determined to be about $3.12 per note, will be payable to holders on record as of Oct. 29.

The payment of contingent cash interest is expected to be made on Nov. 13.

RPM is a holding company in Medina, Ohio.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.