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Article: Borders Group Announces Proposed Offering of $250 Million of Convertible Senior Notes Due 2014.
- Article from:
- PR Newswire
- Article date:
- April 3, 2007
CopyrightCOPYRIGHT 2007 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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ANN ARBOR, Mich., April 3 /PRNewswire-FirstCall/ -- Borders Group, Inc. today announced that it intends, subject to market and other conditions, to offer $250 million of Convertible Senior Notes due 2014 through an underwritten public offering. Borders Group also expects to grant an over- allotment option to the underwriters for up to an additional $37.5 million aggregate principal amount of the notes. The notes will mature in May 2014 and will pay interest semiannually at a rate to be determined.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060208/BORDERSGRPLOGO )
Borders Group expects to use the net proceeds of the offering of the notes to repay ...