Brinker International holders convert $10.8 million zero-coupon debentures ahead of redemption

By Caroline Salls

Pittsburgh, Jan. 25 - Brinker International Inc. said holders of $10.8 million of its zero-coupon convertible senior debentures due 2021 elected to convert their debentures into 308,092 shares of the company's common stock ahead of redemption.

The company redeemed the remaining debentures at a price of $633.54 per $1,000 principal amount, or $262.7 million.

The company funded the redemption with a combination of cash on hand and available lines of credit.

Brinker International is a Dallas-based company that either owns, operates, franchises or is involved in the ownership of 1,517 restaurants of several brands.

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