WebMD calls 3¼% convertibles

New York, May 2 - WebMD Corp. said it will redeem all its outstanding 3¼% convertible subordinated notes due 2007 on June 2.

The company will pay 101.3% of par for the notes plus accrued interest.

Up to 5 p.m. ET on June 1, holders can convert the securities into stock at a price of $9.26 per share. WebMD stock closed at $9.50 Monday.

The Elmwood Park, N.J., provider of health administration services has $299.999 million of the notes outstanding.

Funding for the redemption will come from cash on hand and sales of marketable debt securities.

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