E*Trade holders exchange $20.5 million total of 7 3/8%, 8% notes

By Jennifer Chiou

New York, June 6 - E*Trade Financial Corp. issued a total of 4,747,773 shares in exchange for $20.5 million total of its 7 3/8% senior notes due 2013 and 8% senior notes due 2011, according to an 8-K filing with the Securities and Exchange Commission.

Of the notes exchanged, $18.5 million were 7 3/8% notes and $2 million were 8% notes, and they were exchanged for 4,251,734 and 496,039 shares, respectively.

The transactions took place between June 2 and June 5.

The New York-based E*Trade family of companies provides financial services including trading, investing, banking and lending for retail and institutional customers.

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