Cameron to redeem remaining 2.5% convertible senior notes on July 6

By Toni Weeks

San Diego, June 3 - Cameron International Corp. has issued a call to fully redeem its 2.5% convertible senior notes due 2026, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed on July 6 at a redemption price of par plus accrued interest.

As previously reported, Cameron notified the noteholders on May 17 that they can require the company to purchase the notes at par on June 15. As of May 25, the amount of outstanding notes was about $371.1 million. Cameron said it filed a tender offer statement with the SEC specifying the terms, conditions and procedures for exercising the put option.

The notes may be converted at any time prior to 5 p.m. ET on July 5.

A redemption notice will be delivered to the noteholders by the trustee, U.S. Bank NA. Questions regarding the redemption should be directed to the trustee, attention Jack Ellerin (404 898-8830).

Houston-based Cameron provides flow equipment products, systems and services to oil, gas and process industries.

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