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Article: Countrywide Financial Corporation Announces Agreement to Sell $2 Billion of Series A Floating Rate Convertible Senior Debentures Due 2037 and $2 Billion of Series B Floating Rate Convertible Senior Debentures Due 2037.
- Article from:
- PR Newswire
- Article date:
- May 16, 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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CALABASAS, Calif., May 16 /PRNewswire-FirstCall/ -- Countrywide Financial Corporation today announced that it priced a private placement of $2 billion aggregate principal amount of its series A floating rate convertible senior debentures due 2037 (the "series A debentures") and $2 billion aggregate principal amount of its series B floating rate convertible senior debentures due 2037 (the "series B debentures" and, together with the series A debentures, the "debentures").
The series A debentures will bear interest at a floating rate equal to three-month LIBOR, reset quarterly, minus 3.50 percent, payable quarterly in arrears on January 15, April 15, July 15 and ...