Kaydon Corporation Announces Redemption of Its 4.0% Contingent Convertible Senior Subordinated Notes Due 2023

Resource from: CBCC Likes:2962

Sep 05,2008

Kaydon Corporation (NYSE:KDN) today announced that it is exercising its right to redeem all of its outstanding 4.0% Contingent Convertible Senior Subordinated Notes Due 2023 (the "Notes"). The Notes will be redeemed on September 22, 2008 at a redemption price equal to 100% of the principal amount, plus accrued and unpaid interest, including contingent interest, to but excluding September 22, 2008. This press release does not constitute a notice of redemption of the Notes. The redemption is being made solely pursuant to Kaydon's Notice of Redemption dated August 21, 2008, which will be delivered to the holders of the Notes by U. S. Bank, the trustee under the indenture governing the Notes. The Notes may be converted at any time before 5:00 p.m., New York City time, on September 18, 2008, the second business day prior to the redemption date, in accordance with the terms and conditions set forth in the indenture and the Notes. The Notes are convertible into Kaydon's common shares at a rate of 34.2936 common shares per $1,000 principal amount of Notes, subject to adjustment in certain circumstances. This is equal to a conversion price of approximately $29.16 per common share. Questions regarding the redemption or requests for copies of the redemption notice should be directed to U. S. Bank, the trustee under the indenture governing the Notes, at U.S. Bank, Corporate Trust Services, 60 Livingston Avenue, 1st Fl – Bond Drop Window, St. Paul MN 55107, Attention: Bondholder Communications, or 1-800-934-6802. Kaydon Corporation is a leading designer and manufacturer of custom-engineered, performance-critical products, supplying a broad and diverse group of alternative-energy, industrial, aerospace, medical and electronic equipment, and aftermarket customers.

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous SKF Sponsors Winning Formula Student Team
Next Rexnord Names Darryl Mayhorn President, Aerospace Group

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.