Examples of 6.75% Debentures in a sentence
Holders of either the Series A or Series B 6.75% Debentures may convert them into shares of our common stock at any time at a conversion rate of 204.6036 shares per $1,000 principal amount of the 6.75% Debentures.
In addition, the 6.75% Debentures are structurally subordinated to all existing and future liabilities of our subsidiaries.
We evaluated the various embedded derivatives within the supplemental indenture for bifurcation from the 6.75% Debentures under the applicable provisions, including the basic conversion feature, the fundamental change make-whole provision and the put and call options.
Based upon our detailed assessment, we concluded these embedded derivatives were either (i) excluded from bifurcation as a result of being clearly and closely related to the 6.75% Debentures or are indexed to our common stock and would be classified in stockholders’ equity if freestanding or (ii) are immaterial embedded derivatives.
Interest on the 6.75% Debentures is payable semi-annually on April 15 and October 15.
It is recommended the Police Jury approve payment for disbursement of funds to Prairie Gregg Drainage District for a new flood gate.
AES, at its option, can redeem the 6.75% Debentures which would result in the required redemption of the TECONS issued by AES Trust III, currently for $50 per TECON.
Holders may require us to repurchase the Series B 6.75% Debentures for cash at a repurchase price equal to 100% of their principal amount plus accrued and unpaid interest, if any, on October 15, 2016, 2021, 2026, 2031 and 2036; or at any time prior to their maturity upon the occurrence of a certain designated event.
On April 8, 2013, the REIT issued notices of intent to redeem all the remaining 6.75% Debentures on May 27, 2013 and 6.30% Debentures on May 13, 2013 in accordance with their terms.
The maximum number of shares into which all of the 6.75% Debentures are convertible, including pursuant to this make-whole fundamental change provision, is 235.2941 shares per $1,000 principal amount of the 6.75% Debentures outstanding, as adjusted, or 20.3 million shares as of December 31, 2015.