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Article: Inco closes on private sales of two issues of convertible debentures.
- Article from:
- PR Newswire
- Article date:
- March 7, 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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Inco Limited ("Inco") announced today that, pursuant to the agreements it had previously announced with a group of initial purchasers, it had completed the issuance and sale of (1) U.S $241 million aggregate amount payable at maturity of its Convertible Debentures due March 14, 2023 ("Convertible Debentures"), representing U.S.$ 220 million in gross proceeds to Inco, and (2) U.S. $220 million aggregate principal amount of its Subordinated Convertible Debentures due March 14, 2052 ("Subordinated Convertible Debentures"). Each Convertible Debenture was offered and sold at a price of U.S.$913.81 and will have a semi-annual cash interest coupon equal to approximately 1.09% ...