Genesco issues stock in exchange for $56.4 million of 4.125% convertibles due 2023

By Jennifer Chiou

New York, April 29 - Genesco Corp. said it entered into exchange agreements to issue common stock in exchange for $56.4 million of its 4.125% convertible subordinated debentures due June 15, 2023.

The company will issue 3,066,713 of its shares, including 2,811,575 shares that were reserved for conversion of the debentures and 255,138 newly approved shares, and it will pay accrued interest.

Genesco added that it will retire the securities.

After completion of the exchange, $29.8 million of the debentures will remain outstanding.

Genesco is a Nashville, Tenn.-based footwear and headwear company.

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