Shoe maker Reebok announces convertibility period of debentures

11 Feb '06
2 min read

Athletic shoe manufacturer Reebok International Ltd announces that the period of convertibility of its Series B 2 percent Convertible Debentures due May 1, 2024 and its 2 percent Convertible Debentures due May 1, 2024 (CUSIP Nos. 758110AG5 and 758110AH3) (together the "Debentures") resulting from the merger between Reebok and adidas-Salomon AG which closed on January 31, 2006 (the "Merger") will end at midnight on February 15, 2006.

Holders of Debentures who surrender their Debentures for conversion prior to midnight on February 15, 2006 will receive $1,151.0074 per $1,000 principal amount of Debentures converted (the "Cash Conversion Payment").

After the expiration of the conversion period at midnight on February 15, 2006, any Debentures that remain outstanding will no longer be convertible unless and until Reebok elects to redeem such Debentures in accordance with their terms, which is not permitted until May 2009.

If any Debentures remain outstanding following the February 15, 2006 deadline for conversion, holders of the Debentures will have the option to put the Debentures to the Company at 100 percent of the principal amount ($1,000 per Debenture), plus accrued and unpaid interest, on March 17, 2006.

Reebok International Ltd, headquartered in Canton, MA, is a leading worldwide designer, marketer and distributor of sports, fitness and casual footwear, apparel and equipment under the Reebok, Rockport, CCM, Jofa, Koho and Greg Norman brands.

Reebok International Ltd

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