Vector Group Launches Senior Note Exchange
Stock quotes in this article:
VGR
MIAMI (AP) — Vector Group Ltd., a cigarette maker, said Tuesday it will launch an exchange for $97.18 million in outstanding senior notes at a price above face value.
The company will issue $103.98 million in senior convertible exchange notes due in 2014 in return for the $97.18 million in outstanding notes due in 2011. The new debt will be convertible to common stock at a price of $17.06 per share at the holders option any time on or before maturity. The new notes mature on Nov. 15, 2014. Vector will pay an annual interest rate of 3.75 percent on the new notes. Interest payments will be made quarterly. Shares of Vector Group closed Monday at $15.02.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
Connect with TheStreet
 |
 |
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,388.90 | 1,105.98 | 2,194.35 | 34.83 |
Oil *
77.74
|
|
UP
22.75
|
UP
6.06
|
UP
21.21
|
UP
1.03
|
10 Yr
3.48%
SPDR Gold
113.75
|
|
+0.22%
|
+0.55%
|
+0.98%
|
+3.05%
|
Data delayed 20 minutes |
