Disney holders convert most 2.125% convertibles due 2023 ahead of call

By Jennifer Chiou

New York, April 16 - Walt Disney Co. holders surrendered $1.320 billion of their $1.323 of 2.125% convertible senior notes due 2023 for conversion prior to the April 15 call date, according to an 8-K filing with Securities and Exchange Commission.

Disney said that it redeemed the remaining $2.6 million of notes at par plus accrued interest.

Disney announced plans for the redemption on March 14.

Holders converted their notes before the close of business of April 11. The conversion rate was 33.9443 shares per $1,000 principal amount, equivalent to $29.46 per share.

As a result, Disney issued 44,802,988 shares for the converted notes.

Wells Fargo Bank was the paying agent and conversion agent.

Walt Disney is a Burbank, Calif.-based media company.

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