Masco receives puts of 94% of convertibles

New York, Feb. 27 - Masco Corp. said holders of 94% of its $1.8 billion principal amount at maturity of zero coupon convertible senior notes exercised the put option on Jan. 20.

The Taylor, Mich., manufacturer of home improvement and building products paid $825 million in cash for the securities.

Following the put, there is $108 million principal amount at maturity of the convertibles outstanding.

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