Novell calls remaining 0.5% senior convertible debentures due 2024

By Jennifer Chiou

New York, July 31 - Novell, Inc. announced a notice of redemption for all $43,000 of its remaining 0.5% senior convertible debentures due 2024.

The redemption date is Aug. 31.

Novell said it will pay par plus accrued interest.

The debentures may be surrendered for conversion until the close of business on Aug. 28 at a rate of 86.7905 shares per $1,000 principal amount, or a conversion price of $11.52. The company's stock closed at $4.58 per share on Friday.

Wells Fargo Bank, NA is the trustee.

The company is a Waltham, Mass.-based computer networking firm.

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