King Pharmaceuticals calls 2.75% convertibles

By Jennifer Chiou

New York, Oct. 13 - King Pharmaceuticals, Inc. will redeem its $4.257 million of 2.75% convertible debentures due Nov. 15, 2021 on Nov. 20, according to an 8-K filing with the Securities and Exchange Commission.

The Bristol, Tenn.-based pharmaceutical company said it will redeem the notes at par plus accrued interest of $0.49 per $1,000 principal amount.

The debentures are convertible into King stock anytime before the close of business on Nov. 17 at the conversion price of $50.16 per share.

King shares closed up $0.21, or 1.22%, at $17.46 on Friday.

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