EnPro’s 3.9375% convertibles due 2015 are convertible through maturity

By Tali Rackner

Norfolk, Va., June 17 – EnPro Industries, Inc.’s $2.18 million of 3.9375% convertible senior debentures will remain convertible by holders through the maturity date of Oct. 15, 2015, according to a press release.

This conversion right remains in effect because the closing price per share of EnPro's common stock exceeded $43.65, or 130% of the dividend-adjusted conversion price of $33.58, for at least 20 trading days during the 30 consecutive trading days ended on June 30.

EnPro's stock closed at $59.52 (NYSE: NPO) on Tuesday.

Upon conversion, the lesser of the $1,000 principal amount of each debenture and its conversion value will be settled in cash. To the extent the conversion value exceeds $1,000, the remaining amount due to the holders will be settled in stock.

EnPro is a Charlotte, N.C.-based company that designs and manufactures engineered industrial products.

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