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Article: Option Exercised on Williams' Subordinated Convertible Debentures.
- Article from:
- PR Newswire
- Article date:
- May 23, 2003
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Williams announced today that the initial purchaser of its previously announced private offering of 5.5 percent junior subordinated convertible debentures due 2033 has exercised its option to purchase an additional $25 million of the debentures.
The closing for the aggregate $300 million of convertible debentures (which includes the $25 million issued pursuant to the option) is expected to be May 28.
Williams intends to use substantially all of the net proceeds from the offering to fund its previously announced repurchase of the convertible preferred stock currently held by a subsidiary of MidAmerican Energy Holdings Company.
The convertible ...