Kaman keeps conversion window open for 3.25% notes due 2017

By Wendy Van Sickle

Columbus, Ohio, Jan. 12 – Kaman Corp. said its 3.25% convertible senior notes due 2017 continue to be convertible during the first quarter of 2017.

The conversion option was continued, because the company’s stock traded at or above 130% of the conversion price for 20 trading days during the 30-trading-day period ended Dec. 31, according to a news release.

The conversion option was triggered for the previous quarter because the same condition was met for the 30-trading-day period ended Sept. 30, as previously reported.

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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