Alaska Air Group calls for full redemption of outstanding 7 3/4% Convertible Subordinated Debentures due 2010.SEATTLE--(BUSINESS WIRE)--Dec. 4, 1996--Alaska Air Group Inc. (NYSE NYSE See: New York Stock Exchange ) reported that it has called for full redemption all of its outstanding 7 3/4% Convertible Subordinated Debentures due 2010. The Redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. is Dec. 13, 1996. The Debentures will be redeemed at 100% of the principal amount plus accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. through the Redemption date. The Debentures called for redemption may be converted at the conversion price of $28.25 per share of Common Stock before the close of business on Dec. 6, 1996. The Debentures may be converted at a rate of 35.3982 shares of common stock per $1,000 principal amount at maturity. The Paying Agent Paying Agent An agent who accepts payments from the issuer of a security and then distributes the payments to the holders of the security. Also known as a "disbursing agent. and Conversion Agent is First Trust of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.A., 100 Wall Street, 20th Floor, New York, NY 10005. Alaska Air Group Inc. is the holding company for Alaska Airlines Inc. and Horizon Air Industries Inc. CONTACT: Alaska Air Robin Krueger, 206/433-3185 Lou Cancelmi, 206/433-3170 |
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