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BE Semiconductor holders convert remaining 5.5% notes ahead of call
By Susanna Moon
Chicago, June 17 - BE Semiconductor Industries NV said holders chose to convert all of the €27.9 million principal amount of outstanding 5.5% convertible notes due January 2012 ahead of redemption on June 28.
The company said on May 20 that it would redeem the notes at par plus accrued interest to but excluding the redemption date. The notes were issued in a principal amount of €46 million.
Holders could convert their notes into BE Semiconductor shares at any time before 5 p.m. ET on June 14.
BE said on May 26 that it adjusted the conversion price of the 5.5% convertibles to €4.95 per share from €5.125 per share.
The price adjustment was due to a dividend payment for the 2010 financial year.
BE Semiconductor makes packaging, plating and die-handling equipment for leadframe and array connect applications and is located in Duiven, the Netherlands.
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