Kaman’s 3.25% notes due 2017 become convertible

New York, Oct. 3 – Kaman Corp. said that its 3.25% convertible senior notes due 2017 may now be converted.

The conversion option was triggered because the company’s stock traded at or above 130% of the conversion price for 20 trading days during the 30 trading-day period ending on Sept. 30, according to a news release.

To settle conversions, Kaman will pay cash up to the principal amount of the notes and cash, stock or a combination for any remaining value.

Kaman is a Bloomfield, Conn., maker and distributor of parts for the aerospace and other industries.

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