Sizeler calls $56.1 million 9% convertibles

By Caroline Salls

Pittsburgh, March 30 - Sizeler Property Investors Inc. said it will redeem all $56.1 million outstanding of its 9% convertible subordinated debentures due July 15, 2009 on May 2 at par plus interest accrued to the redemption date.

Holders can elect to convert their debentures into Sizeler common stock until May 2 at a price of $11.00 per share.

Sizeler stock closed at $12.00 on Wednesday.

Sizeler is a New Orleans real estate investment trust that invests in retail and apartment properties in the southeastern United States.

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