Trinity Industries holders may convert 3.875% notes through September

By Susanna Moon

Chicago, July 3 – Trinity Industries, Inc. holders may continue to convert their 3.875% convertible subordinated notes due 2036 for the quarter ending Sept. 30, according to an 8-K filing with the Securities and Exchange Commission.

The notes remain convertible because the last reported sales price of the company's common stock was at or above 130% of the conversion price for at least 20 of the last 30 consecutive trading days ended June 30.

The current conversion rate is 39.504 shares per $1,000 principal amount of the notes.

Upon conversion, a holder will be entitled to receive cash and, to the extent that the daily conversion value exceeds $50.00, a whole number of common shares.

In addition, the company may choose to make the entire conversion payment in cash.

The Dallas-based company's stock (NYSE: TRN) closed at $43.72 on June 30.

Trinity manufactures transportation, construction, and industrial products.

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