Cendant calls $804 million 3 7/8% convertibles

Pittsburgh, Oct. 27 - Cendant Corp. will redeem all $804 million of its 3 7/8% convertible senior debentures on Nov. 27 for cash at par plus accrued interest, according to a company news release.

Holders can convert their debentures into shares of Cendant common stock before the close on Nov. 24 into 41.58 shares of stock per $1,000 principal amount.

If holders elect to convert their debentures, the company expects to repurchase shares of its common stock with cash not used for redemption.

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