Kaman to redeem its 6% convertibles

By Susanna Moon

Chicago, Nov. 27 - Kaman Corp. said it will redeem its remaining $11.16 million of 6% convertible subordinated debentures due 2012.

The company will pay par plus accrued interest to Dec. 20, the redemption date. The debentures are convertible until the close of business on Dec. 17 at the conversion price of $23.36.

The company's stock (Nasdaq: KAMN) closed at $31.71 on Monday.

Kaman is an aerospace, industrial distribution and music company based in Bloomfield, Conn.

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