Seacor holders convert $213.53 million of 2.875% convertibles due 2024 ahead of redemption

By Susanna Moon

Chicago, Dec. 21 - Seacor Holdings Inc. holders converted $213,526,000 principal amount of the company's outstanding 2.875% convertible senior debentures due 2024 prior to Dec. 20, the redemption date, according to an 8-K filing with the Securities and Exchange Commission.

The company said on Nov. 20 that there was $246,224,000 principal amount of the convertibles outstanding.

The remaining $32,695,000 principal amount of debentures outstanding were set to be redeemed.

Seacor previously said it would pay 100.82% of par plus accrued interest for the notes.

The notes were convertible until the close of business on Dec. 17.

The conversion price was $73.15, and Seacor stock closed at $80.43 (NYSE: CKH) on Nov. 20.

Seacor said it would fund the redemption from cash on hand.

U.S. Bank NA is the trustee.

Seacor is a Fort Lauderdale, Fla., provider of marine support and transportation services.

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