Warren Resources calls all 12% sinking fund convertibles

By Caroline Salls

Pittsburgh, Jan. 13 - Warren Resources Inc. said it will redeem all outstanding 12% sinking fund convertible bonds due Dec. 31, 2017 on March 31 at a price of 106% of the principal amount plus interest accrued to the redemption date.

Holders can convert their bonds into shares of the company's common stock at a rate of 50 shares of stock per $1,000 principal amount of bonds until the close of business on the redemption date. Warren's stock closed at $8.90 on Wednesday.

Warren Resources is a New York independent energy company.

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