Watson announces redemption of 1.75%, variable-rate convertibles

By Devika Patel

Knoxville, Tenn., Aug. 25 - Watson Pharmaceuticals, Inc. said it will redeem two series of its convertible contingent senior debentures at par on Sept. 14.

The company will redeem its $2.25 million of 1.75% notes due 2023 and its $572.75 million of variable-rate notes due 2023.

Wells Fargo Bank, NA (800 344-5128) is the trustee.

Corona, Calif.-based Watson is a developer and distributor of pharmaceuticals with a portfolio that includes generic products and branded pharmaceuticals.

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