EGL calls all $100 million 5% convertibles

By Caroline Salls

Pittsburgh, Nov. 30 - EGL Inc. said it will redeem all its $100 million outstanding 5% convertible subordinated notes due Dec. 15, 2006 on Dec. 20 at a price of 101.25% of par plus interest accrued up to but excluding the redemption date.

Holders can convert their notes into shares of EGL Inc. common stock at a conversion price of $17.43 per share, or 57.3608 shares per $1,000 principal amount of notes.

EGL stock closed at $33.74 Tuesday.

The company said it expects to fund the redemption with borrowings under its $150 million unsecured revolving credit facility.

EGL is a Houston-based global transportation, supply chain management and information services company.

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