Kontron plans early repayment of €29.1 million convertibles

By Jennifer Chiou

New York, March 7 - Kontron AG said that its board has elected to call its €29.1 million of convertible bonds for redemption on April 5.

The convertibles were issued for a four-year term on Nov. 28, 2003.

The company said that the early repayment is made possible by its excellent share performance, demonstrated by its 80% rise in value.

Kontron noted that it will use profits and cash flow to repay the bonds.

Based in Eching near Munich, Germany, Kontron produces standard embedded and custom computers.

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