FLOWERS INDUSTRIES TO CALL DEBENTURES FOR REDEMPTION
FLOWERS INDUSTRIES TO CALL DEBENTURES FOR REDEMPTION THOMASVILLE, Ga., July 17 /PRNewswire/ -- Flowers Industries, Inc.
(Flowers) (NYSE: FLO) announced today that it will call for redemption all of its outstanding 8-1/4 percent Convertible Subordinated Debentures due 2005.
The date of the redemption will be Aug. 19, 1992. The aggregate principal amount of the issue of $47,241,000. The redemption price is 102.475 percent of the principal amount plus unpaid interest from Aug. 15 until the redemption date which equals $1,025.67 for each $1,000 principal amount. Flowers said debenture holders have the opportunity of converting debentures into company common stock at a conversion price of $16.00 a share which equals 62.5 shares of $1,000 principal amount. Such opportunity to convert will terminate at the close of business on Aug. 19, 1992. The record date for the Sept. 1, 1992, interest payment on the debentures is Aug. 15, 1992. Debenture holders who intend to convert should do so after Aug. 15 and before the Aug. 19, 1992, redemption date in order to be entitled to this interest payment. In its capacity as the Trustee, Columbus Bank and Trust Company of Columbus, Ga., is acting as the redemption and conversion agent. The company's common stock closed at $17.625 per share today on the New York Stock Exchange. -0- 7/17/92 /CONTACT: C.M. Wood III, senior vice president and chief financial officer of Flowers Industries, 912-226-9110/ (FLO) CO: Flowers Industries, Inc. ST: Georgia IN: SU: OFR
BN-BR -- AT015 -- 0397 07/17/92 16:42 EDT
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|Date:||Jul 17, 1992|
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