Kansas City Southern announces redemption of all series C 4.25% convertible preferreds

By Devika Patel

Knoxville, Tenn., June 12 - Kansas City Southern said in a press release it will redeem all of its series C 4.25% redeemable cumulative convertible perpetual preferred shares on July 15.

The preferreds will be redeemed at $500 each.

The company intends to pay the full redemption amount in cash.

Holders may also elect to convert each preferred into 33.4728 common shares at any time prior to 5 p.m. ET on the business day prior to the redemption date. Each converted preferred will also be entitled to receive an appropriate number of stock purchase rights under the company's 2005 rights agreement. All converted preferreds will stop accumulating dividends on the day immediately preceding the conversion date.

The agent for the redemption and conversion agent is Computershare, Inc. (800 884-4225).

Based in Kansas City, Mo., Kansas City Southern is a transportation holding company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.