Personal Technology
Technitrol To Offer $50M Senior Notes Due 2014
PHILADELPHIA (AP) — Technitrol Inc. said Wednesday that it started a private offering of $50 million convertible senior notes due 2014.
The maker of engineered electronics components said it will use the offering's proceeds of approximately $46 million to pay back some of the debt under an existing revolving credit agreement. Technitrol shares fell 75 cents, or 14 percent, to $4.66 in morning trading. The 7 percent notes carry a conversion premium of 18 percent. The offering is expected to close on Tuesday.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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