Lincare calls 3% convertibles

By Angela McDaniels

Tacoma ,Wash., April 21 - Lincare Holdings Inc. will redeem all of its $275 million 3% convertible senior debentures due 2033 on June 15, according to a company news release.

The company said it will pay par plus accrued interest up to but excluding the redemption date.

Each $1,000 principal amount of notes is convertible into 18.7515 shares through 5 p.m. ET on June 12. This equals a conversion price of $53.33 per share.

The company's stock (Nasdaq: LNCR) closed at $25.39 on Friday.

Lincare is a Clearwater, Fla.-based provider of oxygen and other respiratory therapy services to the home health-care market.

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