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Article: World Airways, Inc. Files Exchange Offer for Convertible Debentures; New Debentures Will Allow Company to Meet Key ATSB Condition For Federal Loan Guarantee.
- Article from:
- PR Newswire
- Article date:
- July 23, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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World Airways, Inc. today announced that it has filed a registration statement, a tender offer statement and other related documents with the Securities and Exchange Commission to commence an exchange offer for its outstanding 8% Convertible Senior Subordinated Debentures due 2004.
World Airways is offering to exchange up to $40,545,000 principal amount of newly issued 8% Convertible Senior Subordinated Debentures due 2009 for its existing 8% Convertible Senior Subordinated Debentures due 2004. The new convertible debentures will be exchanged for an equal principal amount of existing convertible debentures tendered.
Hollis Harris, chairman and CEO of ...