Life Technologies calls all $350 million of 3.25% convertibles

By Toni Weeks

San Diego, May 11 - Life Technologies Corp. has issued a call to fully redeem its $350 million of 3.25% convertible senior notes due 2025 on June 15, according to a press release.

The notes are convertible up until 5 p.m. ET on June 14 at a conversion rate of 20.356 shares of common stock per $1,000 principal amount of notes, which is equivalent to a conversion price of $49.13. The company's stock closed at $55.88 (Nasdaq: LIFE) on May 11.

U.S. Bank NA (800 934-6802) is the trustee for the notes.

Life Technologies is a biotechnology company based in Carlsbad, Calif.

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