Men's Wearhouse lowers conversion price on 3.125% convertibles to $28.47

By Angela McDaniels

Seattle, Sept. 18 - The Men's Wearhouse, Inc. changed the conversion rate of its 3.125% convertible senior notes due 2023 to 35.1309 shares of common stock per $1,000 principal amount of notes, or $28.47 per share, from 35.0815 shares of common stock, or $28.51 per share, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The new conversion rate is effective beginning Tuesday.

The change reflects the quarterly cash dividend of $0.05 per share on the company's common stock payable on Sept. 29. The company's board of directors approved the dividend on July 25.

Men's Wearhouse is a men's apparel retailer based in Houston.

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